Project UpdateJun 11, 2026, 06:51 AM
GoldMining São Jorge Project PEA shows $532M After-Tax NPV, 42% IRR
AI Summary
GoldMining Inc. announced positive results from a Preliminary Economic Assessment (PEA) for its São Jorge Project in Brazil. The PEA highlights strong base case economics with an after-tax net present value (NPV5%) of $532 million and an internal rate of return (IRR) of 42.4% at a gold price of $3,500/oz. Initial capital is estimated at a manageable $202 million, supporting an average annual gold production of 51,250 oz over a 10.6-year mine life. The company plans to advance the project through pre-feasibility studies and permitting.
Key Highlights
- Base case after-tax NPV5% of $532 million at $3,500/oz gold.
- Base case after-tax IRR of 42.4% with a 2.8-year payback period.
- Initial capital expenditure estimated at $202 million, including 25% contingency.
- Average annual gold production of 51,250 oz over a 10.6-year mine life.
- Life of mine All-In Sustaining Cost (AISC) estimated at $1,464/oz.
- At spot gold prices ($4,400/oz), after-tax NPV5% increases to $836.8 million and IRR to 58.6%.
- Company holds approximately $183 million in cash and publicly traded securities.
- Plans to expeditiously commence pre-feasibility studies and permitting.
Price Impact
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