Instead of the four million tonne per annum development producing around 150,000 ounces pa that was looked at early this decade, Crusader is now eyeing a project half that size costing US$93.4 million.
Such a development has been calculated to have an NPV of $118 million, and an IRR of 31% based on a gold price of $1300/oz.
All-in-sustaining costs for the circa-70,000ozpa were put at $908/oz.
A bankable feasibility study is to be finalised this year.
Crusader started the current quarter with A$2.6 million cash.
The company said it is seeking to list on London’s AIM.
The planned listing comes after a move to merge with AIM-listed Stratex International last year was thwarted.
Shares in Crusader were trading this week at levels around 6.5c, capi...