West Vault Mining touts its simple, straightforward Hasbrouck Gold project
(Kitco News) - West Vault Mining (CVE:WVM) said its Nevada-based Hasbrouck gold project is not complicated and that's good.
CEO R. Michael Jones spoke to Kitco on Thursday.
Hasbrouck is located between Reno and Las Vegas on Highway 95, Nevada. The past two years were focused on permitting and engineering the project. Jones said the low capex project will be a 70,000 ounce per year operation, giving it a net present value is $295 million after tax at $1,800 gold. It's internal rate of return after tax would be 92%.
West Vault announced financing earlier this year. In February West Vault Mining said it had a $7.3 million silver stream agreement with Sprott Private Resource Streaming.
Jones wants to emphasize how uncomplicated the project is, which should be appealing to investors.
"It's a straightforward, open pit mine, heap leach operation. Some people even call it mining for dummies. It's pretty basic," said Jones.