RNI NL (ASX: RNI) has updated modelling for its Grosvenor Gold Project in Western Australia that increases free cash flow by 95% to A$172 million at prevailing gold price of A$1,620 per ounce.
In addition, there is scope to reduce the $38.2 million pre-production capital requirement through reduced diesel prices.
Permits and infrastructure are already in place, allowing gold production to commence within nine months of project financing.
The wholly-owned Grosvenor Gold Project, located 170 kilometres northwest of Meekatharra, will use the existing 1 million tonne per annum gold processing plant, the 2 million ounce Grosvenor and Peak Hill gold resource base and supporting infrastructure.
RNI is currently seeking project financing to bring the project into production.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.