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Western Copper and Gold has completed its bought deal public offering of approximately 24.2 million shares to raise C$46 million . The offering was initially made two weeks ago for only C$40 million.
The copper-gold deposit is one of the largest in Canada. Casino has measured and indicated resources suitable for milling of 2.26 billion tonnes grading 0.15% copper, 0.18 g/t gold, 0.016% molybdenum, and 1.4 g/t silver . The M+I resources contain 7.45 billion lb. copper, 12.9 million oz. gold, 791.2 million lb. molybdenum, and 103.1 million oz. silver. There is also an indicated resource of 1.37 billion tonnes grading 0.10% copper, 0.14 g/t gold, 0.009% molybdenum, and 1.1 g/t silver .
According to the 2022 feasibility study, the Casino project has an after-tax net present value of C$2.3 billion and an after-tax internal rate of return of 18.1%. The base case for development would cost C$3.62 billion and pay for itself over 3.3 years. There would be additional sustaining costs of C$751.3 million. The mine life would be at least 27 years. Commercial production could start as early at 2030.
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