- Kingston Resources (KSN) completes a definitive feasibility study (DFS) for the Misima gold project in Papua New Guinea
- The DFS has confirmed gold production of 2.4 million ounces over 20 years at forecast life-of-mine all in sustaining costs of $1217 per ounce
- Kingston plans to leverage off the strong production history at Misima and build a new 6.1 million tonnes per annum carbon-in-leach (CIL) treatment facility
- Managing Director Andrew Corbett says the results highlight Misima as “one of the best undeveloped projects in the Asia-Pacific region”
- Kingston shares are trading grey at 13.5 cents at 11:53am AEST
Kingston Resources (KSN) has completed a definitive feasibility study (DFS) for the Misima gold project in Papua New Guinea.
The DFS has confirmed the potential for a large scale, long-life, low-cost operation delivering gold production of 2.4 million ounces over 20 years, with life-of-mine all in sustaining costs forecast at $1217 per ounce.
The company said the DFS technical outcomes were consistent with the pre-feasibility study, confirming the technically robust, low risk nature of the project.
Kingston plans to leverage off the strong production history at Misima and build a new 6.1 million tonnes per annum carbon-in-leach (CIL) treatment facility.
Managing Director Andrew Corbett said the DFS was “such a fantastic result.”
“Delivering such a high quality study alongside a 28 per cent increase in reserve is a decisive moment for the Misima gold project, Kingston shareholders, and all
stakeholders, in particular the Misima community who have strongly supported our progress,” Mr Corbett said.
“The Kingston study and geological teams have done an outstanding job to complete such a comprehensive work program in a challenging operational environment.”
“The foundations for a return to gold production at Misima are now firmly established and we look forward to continuing to advance Misima towards first production.”
Mr Corbett said the results highlight Misima as “one of the best undeveloped projects in the Asia-Pacific region.”
Kingston is now planning to complete the environmental and social impact assessment, with its mining lease and environmental approval applications to be lodged thereafter.
On the market, Kingston shares were trading grey at 13.5 cents at 11:53am AEST.