St Ives Gold Mine Production Update: $221M NPV Over a 9-Year Mine Life
Gold Fields Limited's St Ives Gold Mine in Australia, Western Australia has a production guidance outlining an after-tax NPV of $221M. The proposed mine plan runs 9 years.
Gold Fields Limited's St Ives Gold Mine has reported production guidance results for the gold project in Australia, Western Australia. The study headlines an after-tax net present value of $221M. It reflects Gold Fields Limited's (GFI) latest disclosed economics for the asset.
Economics. The after-tax NPV is $221M. Economics are based on Mineral reserves based on gold price of $1,500/oz; mineral resources based on gold price of $1,725/oz.
Production and mine plan. The project envisions an underground & open pit operation. Life of mine is 9 years. Average head grade is 3.6 g/t gold.
Resources and ownership. The company holds a 100% interest in the project. Royalties and streams: Government of Western Australia ad valorem gold royalty 2.5%; third party royalties payable 0.9%.
These figures are extracted from Gold Fields Limited's technical disclosures and reflect the most recent Production Update 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.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Total Proven | 5,736 kt | 2.4 g/t gold | 434 koz gold |
| Total Probable | 23,228 kt | 3.9 g/t gold | 2,913 koz gold |
| Total Proven & Probable | 28,964 kt | 3.6 g/t gold | 3,347 koz gold |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Total Measured | 840 kt | 2.6 g/t gold | 69 koz gold |
| Total Indicated | 11,114 kt | 2.7 g/t gold | 964 koz gold |
| Total Measured & Indicated | 11,953 kt | 2.7 g/t gold | 1,033 koz gold |
| Total Inferred | 11,835 kt | 4.5 g/t gold | 1,703 koz gold |
Our Analysis
- NPV after-tax
- $221M
higher than 34% of 124 projects we track
- Mine life
- 9yrs
- Study price assumption
- Mineral reserves based on gold price of $1,500/oz; mineral resources based on gold price of $1,725/oz
- Spot gold today
- $4,139.10/oz
The after-tax NPV of $221M places this asset higher than just 34% of the 124 gold projects we track, a middle-of-the-pack ranking that tells an investor more about the sector than about this mine. It is not an outlier in either direction, and the returns are what you would expect from a modest, operating gold asset in Western Australia. The rank matters less as a standalone score and more as a calibration: this is a steady, unspectacular contributor, not a re-rating catalyst on its own.
What should temper any enthusiasm is the confidence level of these figures. These are operating-mine numbers, not a forward study, which means the NPV carries the credibility of actual production history rather than modeled assumptions. A 9-year mine life is short, and the valuation is anchored to a gold price of $1,500/oz for reserves and $1,725/oz for resources. With spot gold at $4,139.10/oz, the project is running at a wide margin above its own reserve price, which suggests the NPV is conservative on the commodity side. That gap is real upside, but it also raises the question of why the market has not already assigned a higher value to that headroom.
The constraint that matters most is not geology or price, but time. A 9-year life gives limited runway to convert that price upside into cash flow, and the NPV rank suggests the market sees this as a known quantity rather than a discovery. The single question that decides whether this works is whether the operator can extend that mine life or grow resources within the current footprint, because at these prices the asset is profitable, but the clock is ticking.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.