ojvggoldprojectfstechreport-mar2013-plant & infrastucture capex

8/13/2019 OJVGGoldProjectFSTechReport-Mar2013-Plant & Infrastucture Capex

1/55

20.4.4 Ancillary Equipment

20.4.5 Electricity

20.4.6 Labour

20.4.7 Mine Dewatering

20.4.8 Mine Miscellaneous Costs

20.5 Plant and Infrastructure Capital Cost Estimate (CAPEX)


2/55

Table 20.10: Total Plant and Infrastructure Capital Cost Summary by Area

WBS Cost Element Total Cost Estimate ($M)

02 PROCESS PLANT 70.6

03 ON-SITE INFRASTRUCTURE 40.1

05 OFF-SITE INFRASTRUCTURE 19.4

06 INDIRECTS 36.3

07 MINE 9.2

08 MISCELLANEOUS 7.0

TOTAL CAPITAL COST 182.6

Estimate Contributors


3/55

Estimate Organisation

Scope of Estimate


4/55

Estimating Design Allowances


5/55

Table 20.11: Total Cost Breakdown

WBS Cost ElementTotal Bare Cost

($M)Estimating Design

AllowanceTotal Cost Estimate

($)

02 PROCESS PLANT 65.4 70.8

03 ON-SITE INFRASTRUCTURE 37.2 40.1

05 OFF-SITE INFRASTRUCTURE 17.5 19.4

06 INDIRECTS 33.5 36.2

07 MINE 8.4 9.2

08 MISCELLANEOUS 6.4 7.0

TOTAL CAPITAL COST 168.4 8.4% 182.6


6/55

Table 20.12: Table Cost Report by Pricing Type

PRICING TYPE % OF DIRECT COST

Direct Cost Development

Earthworks

Concrete


7/55

Structural steelwork

Platework and Tankage

Mechanical Equipment Supply

Mechanical Equipment Installation


8/55

Piping Supply and Installation

Electrical and Instrumentation

Buildings


9/55

Freight


10/55

Labour

General Cost Development

First-fill Reagents, Grinding Media, and Lubricants

Workshop Tools and Equipment

Warehouse Racking and Shelving

Mobile Plant and Equipment


11/55

Table 20.13: Summary of Mobile Equipment

Vehicle Type Quantity

Spares

Temporary Construction Facilities Cost Development


12/55

Indirect Cost Development

Engineering Procurement & Construction Management (EPCM) Labour

EPCM Expenses

Commissioning

Vendor Representatives


13/55

Project Fee

20.5.1 Escalation

20.5.2 Owners Costs

20.5.3 Taxes and Duties

20.5.4 Contingency

20.6 Process Plant Operating Cost Estimate (OPEX)


14/55

Table 20.14: Estimated Average Operating Costs ($/t)

Cost CategoryPrimary Hard Ore

(4,541 t/d)Weathered Soft Ore

(7,392 t/d)

Process Operating Cost

Subtotal Process Operating Cost 21.93 12.85G&A Costs

Subtotal G&A Cost 6.16 3.78

TOTAL Cost $28.09 /t or $46.6M /y $16.63 /t or $44.9M /y

20.6.1 Basis of Process and G&A Operating Cost Estimate


15/55

Table 20.15: Derivation of Plant Operating Costs

Cost Category Source Of Cost Data

OJVG


16/55

20.6.2 Plant Operating Cost Estimate Inclusions

Labour

Table 20.16: Summary of Process Plant Labour

Area National Expat

Total 87 18


17/55

Table 20.17: Process Plant Labour rates

Process Plant Labour

Description US$/month Comment

Admin and Technical

Maintenance

Operations


18/55

Table 20.18: Process Plant Labour Cost Summary

Area $/a (0 - 2 years) $/a (>2 Years)

Total 4,044,000 2,569,000

Power

Table 20.19: Power generation cost inputs

Description Unit Criteria


19/55

Table 20.20: Plant and Site Power Cost Summary

Power Cost ($/t)Primary Hard Ore (1,657,392

t/a)Weathered Soft Ore (2,698,080

t/a)

TOTAL $/t 11.37 5.59

TOTAL $M/y 18.85 15.09


20/55

Table 20.21: Process Plant Vehicle Maintenance Cost Summary

Number of Vehicles Hours of OperationMaintenance and

Consumables Cost($/h)


21/55

Table 20.22: Reagent Consumption Rates

Item UnitPrimary Ore

Consumption Per Tonneof Feed @ 1.66 Mt/a

Weathered OreConsumption Per Tonne

of Feed @ 2.70 Mt/a

Table 20.23: Reagent Costs

Item Unit price ($/kg)

Primary Ore [email protected] Mt/a

($M/a)

Weathered Ore Cost @2.70 Mt/a

($M/a)

Total 5.935 9.634


22/55

Table 20.24: Crusher and Mill Liner Consumption

ItemUnit Cost

($M per set)

Primary and WeatheredOre Consumption Cost ($M/a)

TOTAL $M/y 3.16

Table 20.25: Grinding Media Details Usage and Pricing

Mill Diameter TypeCost Primary Ore Consumption

Rate @1.66 Mt/a (kg/t)

Weathered Ore ConsumptionRate @ 2.70 Mt/a

Consumption Rate (kg/t)$/kg

Table 20.26: Grinding Media Costs

ItemPrimary Ore @1.66 Mt/a Cost

($M)Weathered Ore @2.70 Mt/a

Cost ($M)

TOTAL $M/y 2.97 2.17TOTAL $/t 1.79 0.81


23/55

General and Administrative (G&A) Costs

Table 20.27: G&A Costs

Item Type Annual Cost ($M)

TOTAL Fixed 10.202


24/55

Process Plant and G&A Operating Variable Cost Modelling

Table 20.28: Primary and Weathered Ore OPEX Variances

Criteria Primary Hard Ore Weathered Soft Ore


25/55

Figure 20.1: Plant throughput vs. Processing Costs

Table 20.29: Example of Process Cost Modelling

Criteria Units80% Hard Ore

Case43% Hard Ore

Case

Total Process and G&A $/t milled 24.7 18.4

y = 430.31x-0.5497

y = 543.86x-0.6427

Processing

Cost($/

t)

Total Plant Throughput (t/h)


26/55

21 Economic Analysis

21.1 Summary

Table 21.1: Summary Economics.

Gold Price ($/oz)

Parameter Unit $1,350 $1,550 $1,750

1261

740

961

558

21.2 Modelling Practice


27/55

21.3 Construction Schedule

21.4 Production Schedule


28/55

Table 21.2: Modelled base production schedule.

PERIOD

Parameter Unit Total 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

OPEN PIT MINING

10.4

17.1

27.5

0.6

2.10

2.3

2.37

212

0.8

0.1

0.9

0.0

5.61

0.0

12.11

7

29.3

126.8

156.0

6.2

1.46

12.8

2.26

1,224

O/P MINING ALL DEPOSITS 40.6

143.9

184.4

6.8

1.53

15.1

2.28

Total ore mined O/P Mt 21.9 0.3 0.8 1.3 1.8 1.8 1.8 1.6 1.5 1.5 1.3 1.3 1.3 1.2 1.2 1.4 1.6 0.2

Total Mined ounces O/P oz Au 1,443 33 68 92 80 85 101 90 89 114 83 86 81 85 93 117 124 23

t:t 8.4


29/55

Table 21.3: Underground Production Schedule

PERIOD


UNDERGROUND MINING

4.60

4.19

6209

1.3

5.15

221

0.2

8.16

50

Total ore mined U/G Mt 6.1

Total Mined ounces U/G oz Au 890

Table 21.4: Total Production Schedule

PERIOD


TOTAL ALL DEPOSITS

40.6

143.9

184.4

6.8

1.53

21.2

2.93

337

1997 Total ore mined Mt 28.03

Total mined grade Au g/t 2.59

Total mined ounces oz Au 2334


30/55

21.5 Commodity Pricing

21.6 Capital Costs

Table 21.5: High Level Capital Cost Summary

CAPITAL EXPENDITURE ($M USD) Total Initial Sustaining

TOTAL CAPITAL COST 504.74 297.08 207.66


31/55

21.7 Operating Costs

Table 21.6: Unit Operating Costs Summary

Summary Unit Operating Costs Unit Cost

Total Unit OPEX $/t milled $49.44

Total Unit OPEX $/oz $653.98

Table 21.7: Unit Operating Costs per Tonne of Ore (Underground)

Underground Unit Operating Costs Unit Cost

All Underground Mining Opex $/t ore mined $41.51

Table 21.8: Unit Operating Costs per Tonne (Open Pit)

Open Pit Unit Operating Costs Unit Cost

LOM Strip Ratio (Waste:Ore) (Waste : Ore) 8.4 : 1


32/55

Table 21.9: Unit Operating Costs per Tonne of Ore (Processing)

Processing Unit Cost

Processing Total $/t ore milled $19.30

Table 21.10: Unit Operating Costs per Tonne of Ore (G&A)

General and Administration Unit Cost

G&A Total $/t ore milled $5.50

Table 21.11: Summary Unit Costs per Ounce of Gold

Unit Costs per Ounce Unit Cost

Total Unit OPEX M$ $653.98

21.8 Taxes and Royalties21.8.1 Government Royalty

21.8.2 Corporate Income Tax

21.8.3 Customs Duties


33/55

21.8.4 Value Added Tax

21.8.5 Withholding Tax

21.9 Working Capital

21.10Life-of-Mine summary Cashflows


34/55

Table 21.12: LOM Summary Cashflow at $1250 per Ounce

Category UNIT NPV TOTAL

28.0

Recoverable Grade gpt 2.4 0.0 3.1 3.1 2.8 2.2 2.0 2.3 2.3 2.4 2.6 2.4 2.0 1.9 2.4 2.5 2.6 2.3 3.0 0.0 0.0

2119

$1250/oz

14.8

Gross Income pre-royalties M$ 2641.3

79.2

NET INCOME FROM MINING M$ 2562.0

OPERATING COST SUMMARY

254.1

376.0

540.8

154.1

60.8

TOTAL OPEX M$ 1385.8

PRE-TAX NET OPERATING INCOME M$ 1156.4

NET FEDERAL TAXABLE INCOME M$ 709.1

NET PROFIT AFTER TAXES M$ 554.9

OPERATING CASH FLOW M$ 671 1002.2

CAPITAL COST SUMMARY

Underground

29.6 1.0

59.6

4.4

Open Pit

62.7

10.4

3.9

3.0

Process Plant and Infrastructure

70.6

40.1

19.3


35/55


36.3

9.2

7.1

14.0

TSF, Water, Roads and Closure

7.1

5.9

28.2

3.5

17.5

Owners Costs

20.0

51.3

TOTAL CAPITAL COST M$ 504.7

NET ANNUAL CASH FLOW M$ 497.5


36/55



28.0


2119

$1350/oz

14.8


85.5



254.1

376.0

540.8

154.1

60.8







Underground

29.6 1.0

59.6

4.4

Open Pit

62.7

10.4

3.9

3.0


70.6

40.1

19.3


37/55


36.3

9.2

7.1

14.0


7.1

5.9

28.2

3.5

17.5

Owners Costs

20.0

51.3




38/55



28.0


2119

$1550/oz

14.8


98.1



254.1

376.0

540.8

154.1

60.8







Underground

29.6 1.0

59.6

4.4

Open Pit

62.7

10.4

3.9

3.0


70.6

40.1

19.3


39/55


36.3

9.2

7.1

14.0


7.1

5.9

28.2

3.5

17.5

Owners Costs

20.0

51.3




40/55



28.0


2119

$1750/oz

14.8


110.8



254.1

376.0

540.8

154.1

60.8





OPERATING CASH FLOW M$ 1,184 1777.4


Underground

29.6

1.0

59.6

4.4

Open Pit

62.7

10.4

3.9

3.0


70.6

40.1

19.3

36.3

9.2

7.1

14.0


41/55



7.1

5.9

28.2

3.5

17.5

Owners Costs

20.0

51.3




42/55

21.11Sensitivities

Table 21.16: Effect of Variation of Gold Price and Operating Costs on NPV5 ($1,550 base price).

LOM Capital Costs ($M)

OperatingCost($/oz)

558

Table 21.17: Effect of Variation of Capital and Operating Costs on NPV5 ($1,550 base price)

Price ($/oz)

OperatingCost($/oz)

558


43/55

Table 21.18: Effect of variation in Price and All Costs on NPV5 ($1,550 base price).

Price ($/oz)

AllCosts

(CapexandOpex)

558

Figure 21.1: Sensitivity Graph at $1350 Price Base

Post-taxNPV5%

(M$)

Percent Change from Base Case

Sensitivity of $1350 Case Economics(Post-tax NPV5%)


44/55



Post-taxNPV5%

(M$)



Post-taxNPV5%

(M$)




45/55

21.12Payback Period

Table 21.19:Payback Period from Commencement of Production

Price ($/oz)

AllCosts(CapexandOpex)

23


46/55

22 Adjacent Properties


47/55

Figure 22.1: Adjacent Properties


48/55

22.1 Teranga Sabodala

Table 22.1: Teranga Exploration Concessions

Exploration Permit Teranga interest Area km Anniversary Date

Sabodala Mine Lease


49/55

Regional Exploration

Bransan

Dembala Berola

Massakounda

Makana


50/55

Sounkounkou

Sabodala Northwest

22.2 Randgold Resources Ltd.


51/55

23 Other Relevant Data and Information


52/55

24 Interpretation and Conclusions

24.1 Conclusions

24.2 Upside Risks

24.3 Downside Risks

Golouma Gold


53/55


54/55

25 Recommendations

25.1 Project Mining and Processing Strategy

25.2 Exploration

25.3 Hydrogeology


55/55

25.4 Metallurgical and Mineral Processing Recommendations

25.4.1 Further Comminution Test Work

25.4.2 General Plant Design Test Work

25.4.3 Mill Power

G

ojvggoldprojectfstechreport-mar2013-plant & infrastucture capex

Documents