Kingston Resources Ltd (ASX:KSN "Kingston") has provided an update on the Pre-Feasibility Study (PFS) for its flagship Misima Gold Project in PNG.
What are the key highlights?
- The PFS is advancing on schedule, with 60% design completion achieved.
- Kingston’s approach to the PFS has been to focus on replicating much of Placer’s highly successful 5Mtpa operation at Misima, which produced 3.7Moz of gold over 15 years at very low operating cost.
- The existing 3.21Moz Au Resource includes an Indicated component of 1.52Moz, of which more than 90% sits within a US$1,400/oz pit shell.
- Historical operating data, metallurgical test work, and geotechnical plans have provided considerable cost and time advantages to the PFS and significantly de-risk future development.
- Open pit optimisation and mine scheduling substantially complete.
- The PFS study is on track for delivery in the December 2020 quarter.
Source: Kingston Resources Ltd, ASX announcement, 24th September 2020.
For more information, please refer to the announcement linked below.