Gold Mountain Mining Corp at Precious Metals Summit Europe (Virtual) Transcript
Since completing our PEA in August, a lot has happened on the project. We've locked in our mining and hauling costs with Nhwelmen-Lake. We signed a definitive agreement with New Gold on our ore purchase agreement. And we've increased the resource to over 810,000 ounces. In light of all the recent progress on the project, we wanted to update our PEA, which resulted in a 20% bump in our economics.
This PEA increased our NPV to over $230 million and achieved an all-in sustaining cost of less than $560 an ounce. By incorporating underground mining in this PEA, we were able to eliminate 50 million tonnes of waste rock mining, which reduces our strip ratio, our environmental footprint, and also our operating costs. This PEA incorporates the contracts that we have in place with Nhwelmen-Lake and with New Afton. That gives us much greater cost certainty in this model.
We were always told our timelines were
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