Eldorado Gold has completed a feasibility study on its Kisladag gold mine in western Turkey and is now making detailed plans to expand the project.
According to the study, the project will require an initial capital investment of $354m, with life of mine cash costs of $430-450/oz and total cash cost of $450-470/oz.
The capital investment will fund new mining equipment, crushing, screening and an ADR plant, expanded infrastructure costs, and a contingency of about $35m.
With the expansion, Eldorado Gold hopes to produce 6.2Moz of gold between 2012 and 2026.
The Kisladag Phase IV expansion project is expected to be completed in the third quarter of 2014 and this will include the time required for permitting of the expansion phase, delivery of equipment and preparation of the mine plan and infrastructure.