EXPLORATION & DEVELOPMENT

Norseman looks set for development

ASX-listed Pantoro has outlined an attractive looking gold development at Norseman in Western Australia given initial capital costs of A$89 million for a project with a post-tax net present value of $260 million and internal rate of return of 67%.

Drilling at Norseman in Western Australia

Drilling at Norseman in Western Australia

The metrics use a gold price of $2,600 per ounce, with $2,200 generating an NPV of $129 million and an IRR of 35%. Norseman has initial reserves of 602,000oz with the aim being to double reserves over...

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