Proactive Investors - Ariana Resources (LON:ARNR) has largely completed its due diligence review on the Dokwe gold project in Zimbabwe, notes broker house Liberum.
A revised resource estimate is well underway and should be completed ahead of the General Meeting to approve the acquisition of Rockover, which owns 100% of Dokwe.
The original PFS from 2022 had a post-tax NPV10% of US$73m and IRR of 25% at a gold price of US$1,650/oz.
The PFS envisaged a 1.5Mtpa open-pit operation (5:1 strip ratio), with a CIL plant averaging 60koz/year (up to 72koz/year) over a 13-year mine life.
All-in sustaining costs were estimated to be US$1,144/oz and the peak funding requirement US$82m (assuming a single-stage build).
Shares today were trading at 2.63p.