The Stibnite Gold Project has released its 2024 financial update as of February 2025. The update presents a comprehensive snapshot of the project's financial performance and operational metrics.
According to the report, the project's macro assumptions are based on consensus prices of $2,100 per ounce for gold, $10.00 per pound for antimony, and $27.00 per ounce for silver. These assumptions have driven various financial and operational metrics.
The revenue for the period is reported at $9,730 million, with off-site costs at ($16.8) million and royalties at ($176.3) million. The operating costs are detailed at ($3,167) million, resulting in an EBITDA of $6,370 million.
The financial update also includes details on capital expenditures, with initial capex at ($2,248) million, sustaining capex at ($723.5) million, and closure capex at ($118.1) million. Notably, the salvage value is reported at $50.9 million.
Production summary figures indicate the waste mined total at 279,764 kst, mineralized material mined total at 115,289 kst, and a total mill feed of 115,025 kst. The project life is estimated at 14.2 years.
The processing summary reveals key metrics such as mill feed grades for gold, antimony, silver, sulfur, and arsenic. Additionally, it provides details on the total content and production of gold, antimony, silver, sulfur, and arsenic.
The report also highlights the financial performance in terms of cash costs and all-in sustaining costs (AISC). Cash costs net of by-products are reported at $537.10 per ounce of gold, while AISC is detailed at $756.30 per ounce of gold.
The market has reacted to these announcements by moving the company's shares -16.4% to a price of $10.01. For more information, read the company's full 8-K submission here.
