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The Board of RTG Mining Inc. (“RTG”, or the “Company”) (TSX Code: RTG, ASX Code: RTG) is pleased to provide a cost update for Stage 1 of the Mabilo Project in The Philippines. A review of the Stage 1 budget conducted by the site team in February 2024 has shown Capital Costs have not materially changed and remain below US$25M as quoted previously. The updated key components of costs for the Stage 1 capital include –Stage 1 Capital ComponentUS$MMobilisation and Mining Facilities1.82Topsoil Removal and Prestrip5.53Sterilisation Drilling0.16Creek Diversion0.71Clearing and Grubbingand Site Prep.0.91Relocation/Crop Compensation/Coconut Tree cutting1.46Local Community Access Way0.25Building and Office Equipment1.87Light Vehicles and Other Equipment1.47Port0.89Land Acquisition3.65Contingency(15%)2.81Total21.53Compared to the last cost review and budget in 2021, Total Operating Costs have reduced slightly with increases in Mining, Crushing, Product Haulage and Mines Department Fund costs being offset by reductions in Shipping, Supervision and Makati Overhead costs. The main operating cost for Stage 1 is detailed below–
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https://www.rtgmining.com/mabilo-stage-1-cost-update/