Minnova's C$76.2M PL Gold Mine Restart: 62,200 oz Annual Output Planned - News and Statistics - IndexBox

AI desk brief

Minnova plans a C$76.2 million restart of its PL gold mine in Manitoba by 2028, targeting average production of 62,200 oz/year over a 10-year life. The preliminary economic assessment assumes a $180.6 million after-tax NPV at a 5% discount rate, 111% IRR, and roughly eight-month payback at $3,000/oz gold, with AISC estimated at $2,288/oz.

The plan leans on existing infrastructure and an open-pit-first approach to generate early cash flow before underground mining. Economics are highly gold-price sensitive: at $2,400/oz, after-tax value falls to about $5 million, highlighting meaningful leverage to bullion prices.