Concordia
Baja California Sur, Mexico
Baja California Sur, Mexico
Our 100% owned Concordia gold project is located approximately 55 kilometers southeast of the city of La Paz in Baja Sur California, Mexico. We acquired Concordia in August 2002 for $2.3 million. Current gold reserves at Concordia are 1.3 million ounces. In 2009, we completed a bankable feasibility study for the project which demonstrates strong economics from a 10-year mine life that will produce over the first five years of the mine an average of 142,900 ounces of gold at an average cash cost per ounce of US$372 from an open pit mine and standard CIP plant. We have already purchased the process plant, secured the necessary surface lands and other infrastructure and have initiated discussions for project financing so that we may immediately commence construction once the permitting process is complete. Consistent with our strong commitment to environmental and social responsibility, we have also initiated a comprehensive social engagement program to maintain strong support from the local communities. Currently, we are awaiting resolution and issuance of the Change of Forest Land Use permit and a number of minor permits necessary to begin construction. Once all the permits are received, we anticipate an approximate 18-month construction period.
* There will remain reference to the project's previous name of Paredones Amarillos in the listing of technical reports and miscellaneous documents.
