US Gold Corp announces positive preliminary economic assessment for Gold Bar Project, Nevada Co announces results of a Preliminary Economic Assessment for its 100% owned Gold Bar Project in Nevada. Results demonstrate favourable economic returns at the current gold prices. Projected annual production of approximately 57,000 ounces of gold over a 6 year mine life, at an estimated cash cost of $557 per ounce. Pre-tax discounted Net Present Value of $28.1 million at $850 per oz gold and 6% discount rate, giving an Internal Rate of Return of 21%. Based on today's gold price ($1150 per oz) the NPV and IRR increase to $104.8 million and 60%. Estimated initial capital expenditure of $38.2 million, life-of-mine capital expenditure of $47.3 million, and pay-back period of 4.7 years at $850 per oz gold, or 2.9 years based on today's gold price.
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