Amarillo updates prefeasibility at Mara Rosa, aims for 2020 construction

Amarillo Gold recently tabled an updated prefeasibility study (PFS) for the Posse gold deposit on its 100%-owned Mara Rosa gold project in the state of Goias in Brazil. The study raises the project’s after tax net present value (NPV) and after tax internal rate of return (IRR) while lowering its initial capital expenditure. The former 2017 PFS outlined a US$223 million after tax NPV at a 5% discount rate, a 42% after tax IRR and a US$148 million initial capital expenditure. The latest PFS assigns the project a US$244 million after tax NPV at a 5% discount rate, a 51% IRR and a US$123 million initial capital expenditure. Both studies are based on a US$1,300 gold price. The company recently helped kick off Red Cloud Klondike Strike’s 2018 Fall Mining showcase by presenting on an early morning at the Omni King Edward hotel in downtown Toronto. Continue reading at The Northern Miner.