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doesn’t expect the PFS to deviate dramatically from the scoping people and develop specific strategies around that schedule.
study, according to Jardine. “It is a really exciting, large-scale project and I think there will
“We haven’t looked at changing price assumptions up or down be a lot of interest. We will make sure we put the processes in
on the scoping study numbers, but we will look at different price place to attract and retain the right people.”
ranges on the pit shell optimisations, although they tend to ESG is another element which is increasingly incorporated into
optimise at a natural pace anyway,” he said. feasibility studies.
“The focus is on increasing gold production and mine life but “ESG has absolutely been a consideration during the PFS
there is also the cash cost element. We don’t want to increase process,” Jardine said. “Decarbonisation was a big agenda
gold production at the expense of increasing costs. In the item at our recent board meeting where we discussed power
scoping study, cash costs were $1,125-1,225/oz and we’re supply and mobile fleets and how the PFS can incorporate what
still focused on maintaining that to keep us in that lowest cost we want to achieve with the carbon footprint both initially and
quartile. throughout the life-of-mine.
“The reasons are around profitability and maintaining a healthy “Every decision around particular items of equipment will
margin; being able to demonstrate to the market that whatever incorporate ESG, what is the best route to take regarding
the price is, we’ll sit in a good space with strong cash flow.” environment, carbon and social issues.”
One additional concern built into the PFS is supply chain During his long career in project development, Jardine has
security. The entire Australian resources sector has been hit by always focused on ESG outcomes.
labour and materials shortages, but De Grey has the advantage
“In the jobs I worked on, I found the best ESG outcome was
of being able to plan for the new realities before it is impacted
almost always the most cost-effective as well,” he said.
by them.
The PFS is set for release in the second half of 2022. That
“The shortages haven’t had an effect on us yet but we are very
milestone will allow the exploration team to return to the hunt for
mindful of it and planning around it, particularly in the PFS where
headline-grabbing intercepts.
potential supply chain issues have been identified,” Jardine
“We are still confident that there are more large-scale intrusive-
said. “For instance, we are looking at where we can place early
related gold deposits out there and we’ll continue drilling and
orders on large-scale equipment.
looking for them,” Jardine said. “Internally, we are looking
“We recently employed Courtney Morgan-Evans as general
towards the resource definition work coming to the end with
manager human resources. Her role is to look forward to project
anticipation because we will then switch focus onto Hemi and
scheduling and construction and work out when we need
Greater Hemi as well as the regional programme.”
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