Source: www.marketwatch.com
GMV Minerals Inc., a mineral explorer focused on developing precious metal assets in Arizona, recently announced the filing of a preliminary economic assessment (PEA) technical report for the Mexican Hat Gold Project located in southeast Arizona. The PEA estimates an average annual gold production of 94,000 oz over the 5-year life of the mine. Assuming a gold price of US$1,300/oz and all-in sustaining costs of $764/oz, the PEA estimates an after tax net present value (NPV) of $77.8 million for the project. Next steps for GMV Minerals are to continue exploration at Mexican Hat in 2019 to discover new areas of mineralization as they work to increase the life of the mine.
