Pungkut Gold Needs $60 Million Capital

BRISBANE (Yosefardi) – Sihayo Gold Ltd estimated construction capital of up to US$60 million for Pungkut Gold project in North Sumatra.
The cost includes diesel power generation, but excludes contingency. “Alternative power solutions, such as a coal-fired power plant have the potential to significantly reduce processing cost, but will require some additional CAPEX,” said Sihayo yesterday.
The company is now in the process of revise the feasibility study for Pungkut gold project, where full evaluation of alternatives will take several months to be refined.
Sihayo expects six year of Stage 1 mining period with average site cash operating cost of US$635 per ounce, assumes diesel fuel power supply.