Altaley Mining CEO Ralph Shearing joined Steve Darling from Proactive to share news the company has announced the results of an updated Pre-Feasibility study for its Tahuehueto Gold Project in Mexico.
Shearing telling Proactive the company has improved the 2017 PFS increasing throughput to 1,000 tonnes per day returning a post-tax NPV of 110 million at 5% discount rate. The total capital cost estimate is 56.9 million with only $6 million capital remaining to be invested to initiate production. The Tahuehueto mine is ramping up and full production is expected Q2-Q3 2022 and the increase in cash flow will allow the company to get back to exploration drilling.