Keep up to date with the latest company news and developments from Carbine Resources.
Interview with managing director
Discussion on Pyrite
Carbine Resources (ASX: CRB) is an Australian junior resource company targeting near term production from its Mount Morgan Gold & Copper Project in Queensland.
The recently completed Definitive Feasibility Study delivers a strong base case for the development of a low cost, long-life project at Mount Morgan. This Project has the potential to deliver a new generation of thinking towards environmental cleanup, heritage sustainability and community interaction.
The Feasibility Study Base Case (Ore Reserve) was based on a 1.1mtpa throughput rate achieving an initial 9.5 year mine life. The estimated Ore Reserve is associated with just four of the historical tailings dumps at Mount Morgan delivering gold, copper sulphate and premium unroasted iron pyrite concentrate to market.
The preproduction capital cost is estimated at A$85 with the all-in sustaining costs after by-product credits projected to be A$549/oz. The Project’s economics enable a forecast payback period of just two years.
From a Carbine perspective, after a short payback period, the Project can provide a steady cash flow for many years enabling a strong growth platform for the Company.
From an environmental perspective, the Project has the potential to make some significant inroads into the environmental legacy associated with acid mine drainage at Mount Morgan with the processing and removal of pyrite from the dumps.
From a community perspective, the Project delivers a new project into central Queensland with a significant mine life. The community of Mount Morgan can become an active mining centre once again.
In light of the Feasibility Study’s strong technical and financial outcomes, the Company is currently advancing project finance options, premium unroasted iron pyrite market offtake arrangements, regulatory approvals and consolidation of project ownership.