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Mexican Hat study flattens share price

Shares in GMV Minerals (TSXV: GMV) have tumbled on the release of what it had described as a positive preliminary economic assessment for its Mexican Hat gold project in Arizona.

Mexican Hat study flattens share price Mexican Hat study flattens share price Mexican Hat study flattens share price Mexican Hat study flattens share price Mexican Hat study flattens share price

GMV slumps on PEA for Arizona gold project

In an amended news release, GMV said the study had used a gold price of US$1,325 an ounce and outlined a 5-year mine life producing an average annual 94,000oz at an all-in sustaining cost of $747/oz.

It put the after-tax NPV, with no discount, at $113.1 million, and the internal rate of return at 29% with a payback of 2.2 years.

Mexican Hat has a 32.8 million tonne inferred resource grading about 0.62g/t gold for 651,000 oun...

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