leadf
logo-loader
viewMetalNRG

MetalNRG says to redo Imwelo PFS and scoping study when acquisition of Lake Victoria Gold completes

MetalNRG announced the planned acquisition of Lake Victoria Gold in October

MetalNRG -

MetalNRG PLC (LON:MNRG) has said that it plans to revise the pre-feasibility study (PFS) on Imwelo Project when it completes the acquisition of the project owner, Lake Victoria Gold.

The company plans to get the consultant that did the original PFS and reserves estimate to revise, optimise and update the numbers and projections to take into account the significantly higher gold price at present and planned investment optimisation.

It is envisaged that the updated study will facilitate the project's fast track to production, with the resultant cash flows supporting further resource development and underground mining studies.

"The company views the planned update of the 2017 pre-feasibility and scoping study report as an opportunity to demonstrate additional value from the development of the Imwelo Project in light of the significant increases in the gold price since that time. Through commissioning an independent study we aim to optimise the economics of the project with a view to setting out a fast-track plan to production and cash flow generation,” said Rolf Gerritsen, the chief executive officer of MetalNRG in a statement.

Quick facts: MetalNRG

Price: 0.675 GBX

LSE:MNRG
Market: LSE
Market Cap: £3.01 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of MetalNRG named herein, including the promotion by the Company of MetalNRG in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

MetalNRG assembles 'secret weapon' team for Sunswept Enterprise as...

MetalNRG PLC's (LON:MNRG) Rolf Gerritsen and Pierpaolo Rocco talk to Proactive London about the Sunswept Enterprise Limited transaction which is now complete.  This follows confirmation from the Oil & Gas Authority that it does not oppose the change of control of Sunswept Enterprise...

on 20/1/21

2 min read