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Article: NovaGold Resources Inc.: Updated Galore Creek Study Demonstrates Increased Cash Flows, Rapid Project Payback and Expanded Low Cost Gold and Copper Production.
- Article from:
- Business Wire
- Article date:
- October 25, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER, British Columbia -- NovaGold Resources Inc. (TSX:NG)(AMEX:NG)
Highlights
- Updated Galore Creek economic assessment study doubles project throughput to 65,000 tonnes per day while maintaining a +20 year mine life.
- Annual project production to average more than 300,000 ounces Gold, 2.3 million ounces Silver and 370 million pounds Copper each year during the first 6 years of production with total production costs in the lower quartile of producers.
- Project cash flows significantly expanded with a base case net after-tax annual cash flow over $200(i) million/year using long-term average metal prices and over $350 ...