St. Augustine Gold and Copper Limited Advances Kingking Project to Definitive Feasibility Study and Engages Consulting Engineering Firms
Executive Summary
- St. Augustine Gold and Copper Limited announced the engagement of Stantec Consulting Ltd. and Independent Mining Consultants, Inc. to conduct a Definitive Feasibility Study (DFS) for the Kingking Copper‑Gold Project in the Philippines.
- The DFS is being pursued on an accelerated timeline following a highly positive Pre‑Feasibility Study (PFS) released July 31 2025 that highlighted a post‑tax NPV of $4.18 billion, IRR 34.2%, and a 1.9‑year payback period.
- Completion of the DFS is targeted for Q4 2026; the study will refine mine planning, processing flowsheets, and project execution plans to potentially reduce mine life to 21‑25 years while maintaining strong economics.
Key Details
- Engaged Firms:
- Stantec Consulting Ltd. – lead engineering firm responsible for overall DFS delivery, EPCM bid package, procurement plan, and compliance with NI 43‑101 & Philippine Mining Act.
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Independent Mining Consultants, Inc. (IMC) – focus on mine planning, resource estimation, and modeling.
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DFS Scope & Timeline:
- Target completion: Q4 2026.
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Activities include optimization of chloride leach for low‑grade sulfide stockpiles, improved crushing/grinding circuit efficiency, throughput increase (potentially shortening mine life to ~21‑25 years), and process flowsheet evaluation to boost gold & copper recoveries.
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Pre‑Feasibility Study Highlights (July 2025):
- Post‑tax NPV (7% discount) – $4.18 billion.
- Post‑tax IRR – 34.2%.
- Payback period – 1.9 years.
- Initial capital estimate – $2.37 billion.
- After‑tax benefit‑cost ratio – 1.8.
- Reserve estimate – 960 Mt total (849 Mt Proven & Probable milling reserves; 111 Mt Proven & Probable leaching reserves).
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Contained metals – 5.40 M lb copper and 9.77 M oz gold.
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Projected Production (first 5 years):
- Copper – 129,000 t payable (cathode & concentrate).
- Gold – 333,000 oz payable (concentrate & Doré).
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Net cash cost – $0.73 per lb of copper.
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Mine Life & Processing Capacity:
- Planned mine life – 31 years plus an additional 7 years of low‑grade or stockpile milling.
- Mine delivery schedule – 100,000 t/day.
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Milling capacity – 60,000 tpd; heap leach capacity – 40,000 tpd.
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Board Action: The Board of Directors approved advancement to DFS on an accelerated timeline to expedite production.
Notable Quotes
- “The Kingking Project's outstanding economics, as demonstrated in the PFS, provide a strong foundation for advancing to the DFS phase,” said Andy Russell, Project Director, Kingking project.
- “With Stantec’s and IMC’s expertise, along with the excellent St Augustine management team, we are well‑positioned to optimize the project and move toward production on an expedited schedule, delivering significant value to our shareholders and stakeholders in the Philippines,” added Mike Regino, Chief Operating Officer.