STLLR - 2 Cornerstone Canadian Projects
Tower Gold Project
Colomac Gold Project
Exploration
Mineral Resource Estimate
Technical Reports
Tower Gold Project
Tower Gold Project is a large-scale, open-pit gold project in the Timmins Mining Camp in Ontario, Canada. The Tower Gold Project represents a series of open pit gold deposits in two areas - Garrison and Golden Highway. Tower Gold Project, located 100 km east of Timmins, is one of the largest undeveloped gold deposits in Canada. Moneta has the largest land position in the eastern Timmins Camp, the most prolific gold producing belt in Canada and one of the top gold-producing areas in the world, with over 85 million ounces of gold produced to date.
2022 Tower Gold Project PEA Highlights:
(All figures are stated in Canadian dollars unless otherwise stated)
Robust economics: $1.1 billion after-tax NPV5% & 31.7% after-tax IRR @ US$1,600/oz gold & FX rate of US$0.78/C$
Cash Flow Generation: $1.9 billion in cumulative after-tax cash flow LOM
Potential Production: Average annual gold production of 261Koz in years 1 to 11 or 193Koz for LOM over 24 year LOM with peak annual gold production of 369Koz
Initial CAPEX of $517 million for a 7.0 million tonne per annum (“tpa”) processing plant including mine preproduction, infrastructure (roads, power line and substation, tailings storage facility, ancillary buildings, and site water management structures) and $886 million sustaining capital
After-tax pay-back of 2.6 years and profitability index (NPV/initial capital) of 2.1
Average mill head gold grade of 1.28 g/t Au in years 1 to 11 (0.94 g/t Au for LOM)
Average mill recovery of 91.3% LOM
All-in sustaining cost (“AISC”) of US$1,073/oz LOM
Opportunities to increase production and expand and improve economics of resources