Auplata assesses its mining assets on its sites
05-Jan-2018 8:08 AM
GUIANA, FRANCE -- (Marketwired) -- Jan 04, 2018 -- ( EURONEXT PARIS : ALAUP )
Auplata assesses its mining assets on its Dieu Merci, Yaou and Dorlin sites
Auplata (Euronext Growth - FR0010397760 - ALAUP), the leading publicly listed French gold producer, has announced that it has conducted a new assessment of its mining assets located on its Yaou and Dorlin sites via the consulting and engineering firm SOFRECO.
This study was accompanied by the financial evaluation of these assets, carried out by a leading international independent expert based on the report produced by SOFRECO. This financial evaluation also included the upgrading of the cyanidation treatment system for stores of ore residue that has already been processed (called tailings) located on the Dieu Merci site.
This assessment took the form of a scoping study whose methodology complies with the JORC (Joint Ore Reserve Committee) code -- the international standard primarily used to estimate and report on mineral resources and reserves -- and which takes the mining and ore treatment studies into account. This study drew on Auplata's document database for the Yaou and Dorlin sites.
The study estimated the two sites' potential for gold production, the related operating costs and the initial investment required to develop a gold production facility. The estimates were carried out by the firm SOFRECO based on an inferred resource level. Starting in the first quarter of 2018, AUPLATA will conduct further studies with the purpose of increasing its level of confidence in its resources to "shown" and "measured" levels.
An average fair value of EUR 81M for the three mining assets
Based on the scoping study, the international independent expert conducted a financial evaluation of Auplata's three mining assets. The aim of this financial evaluation was to estimate these assets' fair value, defined by the IFRS as "the price that would be received for the sale of an asset or paid for the transfer of a liability in a normal transaction between market players on the valuation date".
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