Update: Going underground
KEFI’s announcement of the results of a preliminary economic assessment (PEA) of an underground operation at Tulu Kapi indicates a project with an estimated NPV8 of US$44m, based on a gold price of US$1,250/oz and 100% ownership (cf US$156m for the open-pit project on the same basis). The project envisages producing 50koz of gold pa (in addition to that from the open pit) over four years, at a cash operating cost of US$664/oz and all-in sustaining costs (AISC) of US$845/oz.
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