Euro Sun details plan for Romania mine

MINEX Forum | February 21, 2019 | Views: 160 | Source: Mining Weekly

Euro Sun details plan for Romania mine

Euro Sun Mining has completed a preliminary economic assessment (PEA) for the initial phase of development at the Rovina Valley gold/copper project, in Romania, detailing plans to produce 108 000 oz/y of gold and 13.3-million pounds a year of copper, or 139 000 oz/y gold equivalent.

The PEA focuses on the exploitation of the Colnic openpit, which will produce 1.67-million gold equivalent ounces over 12 years, at an all-in sustaining cost of $752/oz of gold equivalent.

Besides Colnic, which is the first stage of development at the project, Rovina Valley also consists of the Rovina gold/copper deposits, which are amenable to openpit development, and the Ciresata gold/copper deposit, suitable for underground development.

All three deposits are in close proximity and mill feed will be treated at a central facility.

Euro Sun CEO Scott Moore said on Wednesday that Colnic would form the foundation of a multi-decade operation with the expectation of bringing the Rovina pit on line using pre-installed infrastructure followed by the Ciresata deposit.

Colnic is an at-surface openpit deposit containing only 28.6% of the total measured and indicated resources at the Rovina Valley project.

The PEA for the Colnic openpit calculated a pre-tax net present value of $218.1-million with an internal rate of return of 15.4%. The initial capital cost is estimated to be $339.7-million.

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