11:31 AM EST - GoGold Resources Inc. : announced the results of a Preliminary Economic Assessment ("PEA") for its 100% -owned Santa Gertrudis gold mine located in Sonora State, Mexico. The initial PEA confirms that the company could potentially develop a low cost open-pit heap leach mine in Sonora, Mexico that could represent a very robust economic opportunity. More specifically, at a gold price of $1,250 U.S. per ounce, the base case price assumption, Santa Gertrudis has an estimated $232 million U.S. after-tax net cash flow, a $150-million U.S. after-tax net present value at a 5% discount rate, a highly attractive after-tax internal rate of return of 58%, and a low initial capital expenditure of $32 Million U.S. for construction and mine preparation. GoGold Resources Inc.
shares T.GGD are trading up $0.03 at $1.44.
