Gold production at Fruta del Norte for 2022 is estimated to be between 405,000 to 445,000 oz based on an average throughput rate of 4,200 tpd. The head grade is estimated to average 9.79 g/t, with fluctuations expected during the year as different sections of the ore body are mined. Average mill recovery for the year is estimated at 89%.
Cash operating costs are estimated to range between $710 and $780 per oz of gold sold in 2022, with variability expected during the year. AISC for 2022 is expected to range between $860 and $930 per oz of gold sold, based on an assumed gold price of $1,750 / oz and silver price of $22.50 / oz.
Total sustaining capital in 2022 is estimated at $40 to $45 million, of which $22.9 million is for tailings dam construction, $7.4 million for surface infrastructure, inclusive of a new warehouse and an expanded ore pad to accommodate ore blending, $3.6 million for replacement mobile equipment and $2.5 million for the continuing resource expansion drilling program. The remainder is for underground infrastructure, technology, efficiency improvements and additional small projects in the plant.