Rua Gold PEA Shows US$42M NPV, 17% IRR and US$132.6M Capex
The Auld Creek PEA shows an after-tax NPV5% of US$42 million and 17% IRR with 3.3-year payback, rising to US$113 million NPV and 36% IRR at US$4,700/oz gold. It outlines US$132.6 million capex for 250,000 tpa underground mine with 95% gold and 85% antimony recoveries, backed by a 19,000-metre drill program targeting resource conversion.
1. Key PEA Economics
The Preliminary Economic Assessment for the Auld Creek project delivers an after-tax NPV5% of US$42 million and IRR of 17% with a 3.3-year payback under base-case pricing. At a spot gold price of US$4,700/oz, NPV jumps to US$113 million and IRR to 36%, cutting payback to 2.2 years.
2. Project Scope and Recoveries
The study models a 5.5-year underground operation producing two saleable concentrates at 250,000 tpa. Initial capex is US$132.6 million, including a 29% contingency, with recoveries of 95% for gold and 85% for antimony using a simple grind-and-flotation circuit.
3. Drill Program and Resource Expansion
A 19,000-metre infill and step-out drill program is already underway to convert Inferred resources to Indicated and extend the deposit along strike and at depth. The current MRE reports 54,000 ounces Indicated and 150,000 ounces Inferred, with significant upside potential beyond the 5.5-year mine plan.
4. Next Steps and Timeline
Rua Gold aims to leverage New Zealand’s Fast-Track Approvals process to deliver a Pre-Feasibility Study in Q4 2026. Ongoing metallurgical, geotechnical, and environmental studies, along with detailed process design, support the path to development and permitting.