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Gorno has the potential to become a new globally significant zinc district with a long life of mine, located in the heart of European metal consumption, supplying much needed high grade and clean zinc and lead concentrates.

The company completed a scoping study in November 2021 which estimates an approximate total production target of 6.0 million tonnes containing 77% indicated and 23% inferred mineral resources at or above a cut-off grade of 3.5% zinc equivalent at an annual mining rate of 800,000 tonnes over the proposed nine-year Life of Mine. 

The study also identified a Post-Tax NPV of US$211m​, a Post-Tax IRR​ of 50%​, and Initial Capital Expenditure of US$114m​. Annual free cashflow is expected to average about US$67 million during the 2026-2031 production period.


Project highlights

High-quality asset

Gorno has the potential to become a long life, strategic asset located in the heart of European metal consumption.

Low-cost restart

Established infrastructure & logistics with well developed UG and surface access.

Developing Gorno

Exploration program for Gorno Mineral Resource growth and targeting a de-risked development decision leveraging off existing technical studies, aiming for production Q1 2024.

Regional support

Supportive local communities and regulators in an industrialised area with extractive industries nearby.

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Uniquely positioned in Italy


Historical operation, idle since 1982, Gorno will be Italy’s first metal mine in 40 years

Located within historic high-grade zinc and lead mining province

Close proximity to national rail and port infrastructure for distribution to off-takers

Significant organic upside with scalable production and low capital intensity

Local skilled labour market, also established fabrication and service providers

Low technical, geological, financial and jurisdictional risk

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