Greystar Resources Ltd. (TSX:GSL) estimates it could cost $301.6 million to build and equip the underground portion of its Angostura gold and silver project in northeastern Colombia.
The Vancouver-based company said Friday its scoping study estimates Angostura could produce 1.9 million ounces of gold, 7.7 million ounces of silver and nearly 230,000 pounds of copper over a 14-year mine life.
In 2009, Greystar announced Angostura had the potential to produce 511,000 ounces of gold and 2.3 million ounces of silver over 15 years. Its projected cost was US$1 billion to build and US$3 billion to operate over the mine's lifespan, which would include an open pit in addition to the underground shaft..
The resources at Angostura are worth an estimated $400.2 million before-tax, Greystar said Friday.
The estimate was announced two weeks after a group of Greystar Resource shareholders installed new directors and senior management at the company, which has been regrouping after running into stiff opposition to Angostura.
Rafael Nieto Loaiza has been appointed Greystar's president and to the board of directors and David Rovig has been appointed interim chief executive officer, succeeding Steve Kesler in those roles.
Nieto Loaiza, a lawyer who specializes in constitutional and international law, is a former vice-minister of justice for Colombia.
The Vancouver-based company said Friday its scoping study estimates Angostura could produce 1.9 million ounces of gold, 7.7 million ounces of silver and nearly 230,000 pounds of copper over a 14-year mine life.
In 2009, Greystar announced Angostura had the potential to produce 511,000 ounces of gold and 2.3 million ounces of silver over 15 years. Its projected cost was US$1 billion to build and US$3 billion to operate over the mine's lifespan, which would include an open pit in addition to the underground shaft..
The resources at Angostura are worth an estimated $400.2 million before-tax, Greystar said Friday.
The estimate was announced two weeks after a group of Greystar Resource shareholders installed new directors and senior management at the company, which has been regrouping after running into stiff opposition to Angostura.
Rafael Nieto Loaiza has been appointed Greystar's president and to the board of directors and David Rovig has been appointed interim chief executive officer, succeeding Steve Kesler in those roles.
Nieto Loaiza, a lawyer who specializes in constitutional and international law, is a former vice-minister of justice for Colombia.
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