Project goal/aim

NQ Minerals (NQM) had recently acquired the Beaconsfield Gold Mine in Tasmania and were planning to return it to production. As part of NQM's due diligence process, an updated Mineral Resource (JORC 2012) of 1.454Mt at 10.3g/t for 483Koz was reported. pitt&sherry supported NQM through the due diligence process and are subsequently assisted with the next stage of project - preparation of the Pre- Feasibility Study (PFS).

What we did

The objective was to develop a PFS level mining study (+/- 25% engineering accuracy) to provide confidence in the mining outcomes, confirm project economics and guide the implementation plan. The Ore Reserves were based on the recently updated Mineral Resource, with all other areas of possible mineralisation (including the remnants in the upper levels of the mine) to be considered as upside to the project.

Outcomes

Deliverables included:

1. Mine design basis;

- Preferred development option (with trade-off options)

- Mine design and plan

- Geotechnical parameters including seismic management plan

- Hydrogeological parameters

2. Processing Methodology

3. Water management plan

4. Infrastructure plan

5. Health,safety and environmental plan

6. Financial assessment

7. Project risk and opportunity assessment

8. Project implementation plan

9. Relevant Drawings

10. Ore Reserve Estimate- Mineral Resource Statement (JORC 2012) - already completed; and

- Ore Reserve Statement (JORC 2012)