Aim-listed gold developer Ariana Resources’ 75%-owned subsidiary Western Tethyan Resources (WTR) has completed a preliminary economic assessment (PEA) on the Slivova gold project, in Kosovo, south-east Europe, finding it can produce on average 13 000 oz/y. WTR has an earn-in agreement with TSX-V-listed Avrupa Minerals on the project, whereby WTR can earn up to 85% ownership by spending €1.8-million and completion of a feasibility study on the project.
Aim-listed gold developer Ariana Resources’ 75%-owned subsidiary Western Tethyan Resources has completed a preliminary economic assessment on the Slivova gold project, in Kosovo, south-east Europe, finding it can produce on average 13 000 oz/y.
The PEA also deems the project to have a conceptual pre-tax net present value of $27-million and an internal rate of return of 29% - at a gold price of $1 835/oz. The average production of 13 000 oz/y can take place over a seven-year mine life from a combined openpit and underground mining operation.
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