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Author: Admin | 2025-04-28
A better map by CLICKING HERE to make a small tax-deductible donation.A preliminary economic assessement (PEA) of the Back Forty Project is still under review for the Aquila Gold & Zinc Mine. Aquila suggests to investors that the $261 million (mm) dollar initial capital investment would get the project started and consist of $177mm in direct capital expenditures, $44mm of contingency, and $40mm of indirect and owner’s assets. The initial throughput rate is predicted at 5,340 tons per day of rock. The average on-site operating costs are estimated at $29.95 per ton processed open-pit and $66.20 per ton processed for subsurface rock. Aquila’s estimate is justified to investors with $1.5 billion USD of life of mine (LOM) gross revenue on the low end and $2.0 billion USD LOM revenue on the high end. The LOM is estimated at 16 years. Aquila management seems poised to move on the Back Forty Project as it’s flagship revenue driver starting in 2016.Aquila Resources announced board changes December 15, 2015. Edward (Ted) Munden, a director with the Company since 2001, was appointed as interim Chairman of the Board. Mr. Munden, a 35 year veteran in the mining industry, will succeed Mark Burridge, who stepped down in order to focus on other opportunities. Mr. Burridge will remain as an advisor to Aquila for a fixed term providing as-needed services in the future. The board changes were made 10 days before Christmas and were effective immediately.These numbers have been presented to investors and are currently under an official preliminary economic assessment (PEA). When the PEA has been reviewed and approved, investment will begin. Most likely the first year of the 16 year life project will begin sometime in 2016 after approval from the MDEQ’s OOGM. Click to enlarge. (Source)“On behalf of the Board, I would like
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