ZURICH, SWITZERLAND / ACCESSWIRE / June 21, 2017 / After almost 12 months of covering Golden Dawn Minerals Inc. (TSX.V: GOM) with a total of 14 reports, and being a shareholder and believer of its exceptional upside potential, I took the chance in late May to visit Golden Dawn Minerals Inc.'s Greenwood Projects near Grand Forks in British Columbia, Canada. Before the Site Visit Report begins, I would like to raise some attention to the most recent press-releases from the company.
On Monday, June 19, Golden Dawn filed an updated PEA ("Preliminary Economic Assessment") Report for its Greenwood Projects. The previous PEA dates back to April 2016 and the updated PEA now includes the recent acquisition of the Kettle River Resources' land position and its numerous exploration targets along with 31 historic mines. Highlights include:
-- IRR (base case pre-tax): 118.4%
-- NPV (6% discount rate): $27.4 million CAD
-- Pre-production capital requirements: $3.4 million CAD (pre-production period of 6 months)
-- Life of mine ("LOM") cash cost: $604 USD/oz gold
-- All-in sustaining costs: $786 USD/oz gold
Today, Golden Dawn announced material news of having received, from the BC Ministry of Energy & Mines, the eagerly-awaited permit of operating the Lexington-Grenoble Mine. The company received a dewatering permit for the underground mine on March 31. Dewatering the mine only makes sense if the company holds an operating mine permit as once it is dewatered, mining should take place shortly thereafter. Now, with Golden Dawn holding both permits in hand, the company can actually start dewatering the mine (takes about 2 months) in anticipation of extracting mill feed. This is pivotal for Golden Dawn as this permit now enables the company to become a producer. On top of that, Golden Dawn received an operating permit for its Greenwood Mill so that the mined material from Lexington-Grenoble can be processed through its own facility to produce potentially saleable precious and base metal concentrates. As per today's press-release:
"These permits put Golden Dawn in the driver's seat towards production."
The full report can be accessed with the following links:
English (web version): http://rockstone-research.com/index.php/en/research-reports/3126-Golden-Dawn-receives-Mine-and-Mill-Permits
English (PDF): http://rockstone-research.com/images/PDF/GoldenDawn15en.pdf
German (web version): http://rockstone-research.com/index.php/de/research-reports/3180-Die-Minen-Genehmigung-ist-da
German (PDF): http://rockstone-research.com/images/PDF/GoldenDawn15de.pdf
Disclaimer: Please read the full disclaimer within the full research report as a PDF because fundamental risks and conflicts of interest exist. The author holds a long position in Golden Dawn Minerals Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in Golden Dawn Minerals Inc. Cautionary Statement: The PEA is preliminary in nature and it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Mineral resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that the PEA will be realized. Golden Dawn Minerals Inc. (the "Company") would like to clarify that its decision to proceed to extract mineralized material from the Lexington, Golden Crown and May Mac mines for processing at its facility located at the Greenwood Precious Metals Project was not based on a Feasibility Study. The Company cautions that, in such cases, there is increased uncertainty and higher economic and technical risks of failure. The Company notes that, since the mining and processing infrastructure is in place, it intends to proceed to trial mining and processing on the basis of Mineral Resource Estimates and the Preliminary Economic Assessment.
SOURCE: Rockstone Research
ReleaseID: 466391
