EXPLORATION & DEVELOPMENT

Westgold, Ramelius, Gascoyne on alert after Musgrave's Cue PFS

GOLD mining companies such as Ramelius, Westgold and connections associated with Gascoyne will be reassessing their potential interest or otherwise in Musgrave Minerals after a prefeasibility study for the latter's Cue gold project outlined a 500,000 tonne per annum development costing A$121 million to kick into production and producing 337,000 ounces over five years at average all-in sustaining costs of $1315/oz.

 More drilling planned at Cue

More drilling planned at Cue

Financial metrics reported by Musgrave included a post-tax net present value of $215 million and internal rate of return of 91%, with a gold price of $2600/oz used. Musgrave does not seem in any huge...

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