Sulliden’s strategy is to create value through the development of its 100% owned Shahuindo Project, located in northern Peru. This prolific gold producing region is home to some of the world’s largest and lowest cost mines in the world, including Barrick’s Lagunas Norte Mine and Newmont’s Yanacocha Mine.
A Feasibility Study for the Shahuindo Project completed in September 2012 outlined a straightforward open pit heap leach recovery mine with low capital requirements and bottom quartile operating costs. The CAPEX of the mine is an estimated $131.8 million, which will support a mining rate of 3.65 million tonnes per year and annual production of approximately 90,000 gold equivalent ounces at projected average cash operating costs of $552/oz. This mining scenario considers only approximately 40% of the gold ounces from the total oxide mineral resource. A staged development approach will give Sulliden the opportunity to fund future expansion from internally generated cash flow.
A mineral resource calculation from September 2012 estimates that the Shahuindo property contains 2,438,000 oz of gold in the Measured & Indicated category, and 1,628,000 oz of gold in the Inferred category. This estimate is based on approximately 150,000 metres of drilling. Numerous targets on the property remain under explored or unexplored, and will be included in future exploration programs.
Shahuindo is currently in advanced stages of permitting and production is targeted to commence by the end of 2015.
Sulliden is led by a highly experienced management team with a proven track record of developing, financing, and operating mining projects around the world, particularly in Latin America.
Sulliden trades on the Toronto (TSX) and Lima (BVL) stock exchanges under the symbol ”SUE”, and on the US over-the-counter market under the symbol “SDDDF”.
Project Location & Neighbouring Mines
Excellent Infrastructure & Access to Highly Trained Workforce
Shahuindo Property Looking North-West