Updated PEA downsizes Wellgreen PGM project

Wellgreen Platinum (TSX: WG) has delivered an updated preliminary economic assessment (PEA) for its Wellgreen platinum group metals and nickel deposit, in the southern Yukon, that cuts capital costs and the project’s mine life while maintaining “robust economics.” 

Total capital costs for the project still ring in at $1.5 billion, but initial capex is now forecast at $586 million (including $100 million in contingencies). That’s a nearly $300-million improvement over the $880-million initial capex predicted in a 2012 PEA.

The previous study had put life-of-mine capex at just shy of $2 billion.

The new study looks at a more modest, scalable operation with a 25-year mine life (down from 37 years).

Read the complete article at NorthernMiner.com/news/wellgreen