Courageous Lake PFS: $523M NPV, 20.6% IRR
Seabridge Gold Inc.'s Courageous Lake in Northwest Territories, Canada has a Pre-Feasibility Study (PFS) outlining an after-tax NPV of $523M, an after-tax IRR of 20.6%, and initial capital of $747M. The mine plan runs 12.6 years at about 201 koz Au per year.
Seabridge Gold Inc.'s Courageous Lake has reported Pre-Feasibility Study (PFS) results for the gold project in Northwest Territories, Canada. The study headlines an after-tax net present value of $523M at a 5% discount rate. It reflects Seabridge Gold Inc.'s (SEA.TO) latest disclosed economics for the asset.
Economics. The after-tax NPV is $523M using a 5% discount rate. After-tax IRR is 20.6%. Initial capital expenditure is estimated at $747M. The study models a payback period of 2.8 years. All-in sustaining costs are pegged at 999 USD/oz Au. Economics are based on Gold US$1,850/oz (base case).
Production and mine plan. The project envisions an open-pit operation. Life of mine is 12.6 years. Average annual production is approximately 201 koz Au. Average head grade is 2.6 g/t Au. Metallurgical recovery averages 89.3%. The open-pit strip ratio is 7.6:1.
Resources and ownership. Mineral reserves: 33.9 M tonnes @ 2.6 g/t Au: 2.8 M oz Au (Proven & Probable). Mineral resources: M&I: 145.2 M tonnes @ 2.36 g/t Au: 11.0 M oz Au; Inferred: 40.6 M tonnes @ 2.52 g/t Au: 3.3 M oz Au (Courageous Lake deposit); Walsh Lake Inferred: 4.1 M tonnes @ 4.18 g/t Au: 0.55 M oz Au. The company holds a 100% interest in the project.
These figures are extracted from Seabridge Gold Inc.'s technical disclosures and reflect the most recent PFS on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.