McEwen Mining delivers positive feasibility study for Fenix
Kitco News has launched its 2021 Outlook, which offers the most comprehensive coverage of precious metals markets in the new year. Trillions of dollars were pumped into financial markets in 2020 and that won't come without consequences. Economists expect that investors will be Bracing For Inflation in 2021.
The base case scenario, which assumes $1,500/oz gold price and $17/oz silver price, delivers after-tax IRR of 28% and after tax NPV (8% discount) of $32 million.
Chairman and Chief Owner Rob McEwen commented, “The Fenix feasibility study envisions a 9.5-year mine life with an attractive after-tax IRR of 28% using $1,500/oz gold and $17/oz silver. At current gold and silver prices, the project’s after-tax IRR almost doubles and the NPV more than triples versus the base case.”
“The project will incorporate an environmentally progressive method of tailings management, using in-pit storage that creates multiple benefits, most importantly a secure containment of tailings enabling better reclamation results,” continued McEwen.
McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina.