Independent Review of Sulfide Expansion Feasibility for Simberi Gold Mine
SRK Consulting was engaged by Kumul Minerals Holdings Limited to complete an independent due diligence report of the Simberi Gold Mine, located on Simberi Island in New Ireland Province, Papua New Guinea, in support of Kumul’s proposed acquisition of an equity interest in the operation.
The review focused on the Definitive Feasibility Study for the Sulfide Expansion Project, which proposes expansion of mining operations and installation of a 3.5 Mtpa flotation processing circuit to treat hard‑rock sulfide ore beneath the existing oxide operation.
SRK undertook a multidisciplinary review of the project, covering Mineral Resources and Ore Reserves (in accordance with the JORC Code (2012)), mining and geotechnical design, processing and metallurgy, water management, infrastructure, environmental and social considerations, mine closure, costs, and overall project risk. A site visit was completed as part of the due diligence to inform SRK’s understanding of operating conditions and data reliability.
The review identified no fatal flaws at this stage of project development but highlighted several areas where additional work would improve confidence. SRK’s findings and recommendations were provided to support investment decision‑making and to inform risk mitigation and optimisation prior to project execution.
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