Projects
Pre-Feasibility Study (PFS)
A Pre-Feasibility Study (PFS) and discovery exploration commenced at Kharmagtai in early 2023. The Kharmagtai PFS will evaluate growth-focused opportunities in mining & processing technologies and higher-grade focused discovery exploration, aimed at materially upgrading the base case Scoping Study.
The initial drill program is comprised of ~30,000-metres of diamond drilling with four rigs onsite. A key objective of the drilling program is to upgrade the current open-pit Mineral Resource Estimate (MRE) areas and inform geometallurgical and geotechnical models needed to complete the Kharmagtai PFS and support delivery of a Maiden Ore Reserve. The MRE was updated in December 2023 and again in August 2024.
The 2022 PEA and Scoping Study was published for Kharmagtai in April 2022. This confirmed Kharmagtai’s potential to be a world class, low-cost, long-life copper-gold mine. The Study estimated 20% IRR (range 16-25%), US$630M NPV @ 8% (range US$405-850M), and four-year payback (range 4-7 years) over a 30 year mine life. Annual production averages 50ktpa copper and 110kozpa gold over the Life of Mine (LOM) at all-in sustaining cost of US$1.87/lb.
Scoping Study Results
Xanadu’s Position on the Cost Curve
Key assumptions, data sources and data reliability/quality information relating to this resource can be found in the Kharmagtai Technical report lodged on SEDAR, dated 20 June 2022.
References:
- ASX/TSX Announcement 13 April 2023 – Kharmagtai Pre-Feasibility drilling off to a flying start
- ASX/TSX Announcement 7 June 2023 – New Higher-Grade Zones Found in Kharmagtai Infill Drilling
- ASX/TSX Announcement 6 April 2022 – Scoping Study – Kharmagtai Copper-Gold Project
- ASX/TSX Announcement 8 December 2023 – Kharmagtai Mineral Resource Estimate Update
- ASX/TSX Announcement 28 August 2024 – Update – Increase in Kharmagtai Resource