trending Market Intelligence /marketintelligence/en/news-insights/trending/KE_t237VljYSbg8chFcOKg2 content esgSubNav
In This List

Crusader Resources outlines short-term strategy of dual listing, project plans

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Crusader Resources outlines short-term strategy of dual listing, project plans

Crusader Resources Ltd. on Dec. 12 unveiled a short-term strategy comprising a dual listing on the London Stock Exchange's AIM and development plans for its Borborema, Juruena and Novo Astro gold projects in Brazil.

The company is listed on the ASX and is planning to apply for the AIM listing within the first two months of 2018 to attract additional funding needed for its project plans from a broader range of investors, with brokers and advisers already engaged to complete the London listing.

Following the AIM listing, Crusader will finalize a bankable feasibility study for its flagship Borborema property in the first half of 2018 to reflect the proposed development of an operation with a throughput rate of 2 million tonnes per year producing more than 70,000 ounces of gold annually.

The output target is based on an initial 10-year mine life development of about half of the project's current reserves, or over 800,000 ounces of gold.

Crusader expects to submit an installation permit for Borborema in the first half of 2018 as the bankable feasibility study progresses, with a construction decision anticipated in the second half of the year.

The company also plans to complete a review at Juruena and initiate a 30,000-meter exploration drill program targeting the definition of economic and minable reserves within 18 to 24 months, while at Novo Astro, a full structural review is scheduled for the first half of 2018 ahead of initial drilling.

For the longer term, Crusader will continue to acquire and develop assets through to production, aiming to become a gold producer with annual output of 150,000 to 200,000 ounces of gold. The company's acquisition strategy targets gold projects nearing or already in production with all-in sustaining costs of less than US$850/oz.