This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Rainy River Resources Completes Feasibility Study: Establishes Intermediate Production Profile With 4.0 Million Ounces Of Gold In Proven And Probable Reserves

The FS assumes the processing of an average 21,000 tonnes per day ("tpd") from a combination of open pit, underground and stockpiled material. The mine schedule contains two years of pre-production and envisions a mine operating life of 16 years, including six years of reclamation from the stockpiles and excluding the pre-production period. Development of the underground operation would start in Year 1 of mine operations and begin producing at full rates by Year 6.

Conventional open pit mining has been chosen as the primary method to extract the Rainy River deposit because of its proximity to surface. The open pit mine production rate is planned to be approximately 21,000 tpd of mill feed material initially, and is gradually reduced to 20,000 tpd once the 1,000 tpd underground operation reaches full production in Year 6. The open pit mining plan is based on a declining cut-off grade strategy, whereby low grade material will be stockpiled near the primary crusher for future processing as needed, at the end of the open-pit and underground mine lives. The objective of this strategy is to obtain a higher average milled grade in the early years in order to maximize the Project's cash flow and economics.

An operating cut-off grade of 0.60 g/t AuEq is applied initially, dropping to 0.45 g/t AuEq in the final years. During open pit operations, material with grade below the operating cut-off grade and at or above 0.30 g/t AuEq is stockpiled near the primary crusher for processing in the last six years. The stockpiled material totals 43 million tonnes ("Mt") at 0.37 g/t Au and 1.97 g/t Ag, and is reclaimed and processed using existing mine equipment after the open pit is exhausted.

The primary mine fleet for the open pit consists of three 28-cubic metre hydraulic shovels, one 15 cubic-metre wheel loader, up to 19 haul trucks (226-tonne-class) and a fleet of support equipment. Initial production drilling will be carried out by a fleet of up to 3 diesel powered track-mounted (DTH) drills. Operating bench heights of 10 metres have been planned for mining operations. Over the life of the mine, a total of 350.6 Mt of waste rock and 80.0 Mt of overburden will be moved. It is anticipated that all overburden will be removed within the first seven years of mine operations.

5 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs