West Vault Mining (TSX-V: WVM; US-OTC: WVMDF) is weighing whether to build its Hasbrouck gold project in Nevada independently or sell the asset, CEO Sandy McVey said.
A January 2023 pre-feasibility study outlines a niche open-pit, run-of-mine heap-leach operation near the historical mining town of Tonopah, producing about 71,000 oz. gold a year for eight years, with initial capital expenditures of $66 million (C$90 million) and all-in sustaining costs of $877 per ounce. Using $2,600 gold, the study returns an after-tax internal rate of return of 110% and a 5% discounted net present value of $503 million.
“We have all the key permits; it could be built tomorrow,” McVey told The Northern Miner’s Western Editor, Henry Lazenby, last month at an industry conference. West Vault doesn’t plan to bring in a partner, McVey added and would either finance and build on its own – or divest.
The wait-and-see approach puts West Vault in a small camp of juniors sitting on permitted ounces rather than drilling for near-term headlines. The company is pitching Hasbrouck as high-leverage exposure to gold with minimal corporate overhead, with 48% insider ownership.
Watch the full interview below:
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