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Bullabulling Gold

  • BY: Andrew Hore |
  • POSTED: 03/12/2012 |

Australian gold miner Bullabulling Gold says that its pre-feasibility study for the Bullabulling project shows that it could be a substantial gold mine.

The base case is production of 1.95m ounces of gold over 10 years, with 650,000 ounces produced in the first three years at a cash cost of $884/ounce. The capital payback could be achieved in just over two years if the gold price stays around current levels.

Over the first five years the cash cost increases to $971/ounce. The life of mine cost is $1,104/ounce. The 117,500 ounces Gibraltar deposit is not included in the figures and there is scope for extending the project.

The full pre-feasibility study will be published in the first quarter of 2013. Bullabulling will progress to a full feasibility study.

At 7.5p a share, up 1.62p, Bullabulling is valued at £21.7m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf

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