Georgetown: The Toroparu Gold Project contains 4.1 million ounces of gold mineral reserve with attractive production profile and robust economic outlook says Sandspring Resources Ltd.
Ministry of Natural Resources and the Environment Robert Persaud said Chief Executive Officer (CEO) of Sandspring Resources Ltd, Richard A. Munson, and a team of his senior managerial directors recently presented the results of the updated pre-feasibility study for the Toroparu Gold Project.
“The Toroparu Gold Project (TGP) pre-feasibility results show an initial mine development of 4.1 million ounces of gold mineral reserve with attractive production profile and robust economic outlook. The advanced stage of development in a supportive mining jurisdiction shows existing infrastructure; fiscal stability agreement and environmental permit are in place and a memorandum of understanding has been granted for hydroelectric power facility development in the area,” the Ministry of Natural Resources noted. “It was highlighted that the average rate of gold price has been revised to a more sustainable level for the life of the project given the high volatility of gold prices on the world market. The TGP is project to produce an average of 228,000 ounces of gold per annum of the life of the project. Moreover, Sandspring Resources Ltd. is holding to the timeline of starting production in 2015 and full operating of the mine site in 2016.”
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