Canadian Mining Journal

News

Sandspring rethinks Toroparu in light of copper component



Sandspring Resources (TSXV: SSP; US-OTC: SSPXF) is finalizing a preliminary economic assessment (PEA) for its Toroparu gold project in Guyana that rescopes the project’s pre-feasibility study (PFS) and includes a third gold pit. It aims to table the study in a couple of months.

“All we’re really doing is building this same concept, the same conceptual operating plan that we had in 2013-2014, we’re just building it in two separate phases,” Sandspring CEO Rich Munson explains in an interview with The Northern Miner.

Sandspring tabled its PFS in 2013, outlining a US$691 million after-tax net present value (NPV) at a 5% discount rate and a 23.1% after-tax internal rate of return (IRR) at US$1400 per oz. gold but with a US$464 million pre-production initial capital expenditure (CAPEX).

The company went public in 2009 after working in Guyana since the late 1990s as ETK. In the ’80s and ’90s, it was the largest uranium producer in the United States.

Continue reading at The Northern Miner.