Covering Mineral Exploration in the Nordics

Northern Explorer Scandinavian Exploration and mining news logo

Ikkari PEA Published

Rupert Resources published a preliminary economic assessment, including both the flagship Ikkari discovery and the Pahtavaara mine and mill. The study is based on a 22 life of mine at Ikkari with a transition from open pit to underground between years 11 and 12. During operation, a total of 4.25 million oz of gold are expected to be recovered for all-in sustaining costs of 759 USD/oz. Assuming a gold price of 1650 USD/oz, the project has an NPV (5% discount rate) of 1.6 billion USD with an IRR of 46% and a payback after only 2 years.

 

Ikkari, pit and underground mining infrastructure (Source: www.rupertresources.com)