Canadian Pershimco Resources Inc. estimated the prospects for the development of a gold mining project in Panama, according to the Russian Jewelery Network.
Pershimco received the results of the Cerro Quema feasibility study in the southwest of Panama, according to which, over a period of 5 years of operation, the company will be able to receive more than 417,000 ounces of gold at the mine. Average annual production volumes are expected at 78.5 thousand ounces. Capital costs for the development of Cerro Quema are estimated at $ 117 million.
Net present value of the company will reach $ 110 million. The cost of total production costs will be $ 631 per ounce. Pershimco's management is currently involved in financing the development of the project.