Magnetic Resources NL Managing Director George Sakalidis talked with Proactive about the company’s progress at the Laverton gold project in Western Australia.
He revealed that the resource now totals 1.9 million ounces, with the primary deposit, Lady Julie North 4, contributing 1.6 million ounces at an average grade of two grams per tonne.
Sakalidis emphasised the project’s exceptional economics, highlighting that the net present value (NPV) could significantly surpass the previous estimate of A$900 million, which was calculated at a lower gold price of A$3,200.
The current Australian gold price is A$4,300. The feasibility study, expected in Q1, will incorporate underground operations in addition to open pits and a CIL processing plant.Looking ahead, Magnetic Resources is conducting extensive drilling to assess deeper gold potential and advancing native title agreements alongside mining lease applications.
The company also noted strong interest from potential partners and banks, underscoring the robust investment case for the project. "The economics of this project are unbelievably good," Sakalidis stated.
Watch the full video to learn more about Magnetic Resources’ ongoing developments at Laverton.
MAU Price at posting:
$1.22 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)