Positive Numbers for Bonanza – 96% IRR
Post by Melissa Pistilli, Gold Reporter
American Bonanza (TSX: BZA) released the results of a Feasiblity Study today at their 100% owned Copperstone project in Arizona. Based on a gold price of $962/oz, the internal rate of return (IRR) is said to be 96.3%.
The study sets the Proven Reserves at 255,000 ounces of gold and Probable Reserves at 1,178 ounces. The plan shows these reserves can be mined over 6.3 years with a capital cost of only $17.74 million.
Brian Kirwin, President and CEO of BZA is quoted saying:
Copperstone has a very strong economic profile, significant infrastructure on-site, low capital costs, fast capital payback, a rapid permitting timeline, and excellent expansion potential near the proposed mine workings. Bonanza will stay focused on bringing Copperstone into production in 2010.
Click here for the full press release.
Questions about this article? Leave a comment below or contact our editorial team at editor@resourceinvestingnews.com.

Leave a Comment
What is Gold Investing News' Comment Policy?
Gold Investing News pre-moderates comments on our blog posts and post-moderates comments on news stories. We never censor comments based on political or ideological point of view. We only delete those comments that include the following transgressions: