Proven and probable gold reserves of 1.6 million ounces
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Estimated gold production averaging 175,000 ounces per year over a nine-year mine life
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Expected total cash costs averaging $230 per ounce
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$160 million invested to year-end 2007, estimated $23 million more to completion in 2008
The Goldex mine is ahead of schedule for start-up in 2008. It will be a low-cost, high-tonnage operation, processing nearly 7,000 tonnes of ore per day. Goldex benefits significantly from its proximity to LaRonde in terms of operating synergies and technical expertise. Shaft sinking was completed in 2007 and the processing plant was completed in early 2008.
2008 exploration budget of more than $2 million
Focused on zone of gold mineralization beneath the orebody
Small drilling campaign at a western zone that has historically yielded high-grade gold assays
