Artemis Gold (TSXV: ARTG; US-OTC: ARGTF) has released a feasibility study for its Blackwater gold project, 150 km southwest of Prince George, B.C. The numbers give it a net present value at a 5% discount rate of $2.15 billion after taxes, and a post-tax internal rate of return of 32%. In the first five years of operation, Blackwater will produce 321,000 oz. of gold annually at an all-in sustaining cost of US$576 per ounce. Over the 22-year life of the mine, production will average 351,000 oz. of gold at an AISC of US$672 per ounce.
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