MetalsTech (ASX:MTC) has made short work of Tuesday, ahead by about 125% when I last looked at about 3pm.

MTC has shared some fine, fine results of a Scoping Study the team have done at its 100%-owned Sturec Gold Mine in central Slovakia.

“The Study confirms Sturec Gold Mine can support a Base Case scenario with an underground-only mining operation delivering gold and silver concentrate production of ~1.134Moz AuEq production over an initial mine life of 9 years at 2.3Mtpa plant production capacity.”

The digger says, based on a forecast gold price of US$1,850/oz (Consensus LT Forecast), the Sturec Gold Mine ‘exhibits an operating margin of >200%.’

Ideally placed just 17km west of central Slovakia’s largest city, Banská Bystrica, (and 150km northeast of the capital, Bratislava), MTC says the study was ‘very high quality’ – with 78% of the mining inventory based on Measured and Indicated Resources, with only 22% in the Inferred category.

MTC has been doing the numbers and this study seems to have helped them add up:

 Total LoM capital investment for underground mining operation, process plant and infrastructure estimated at US$95.41M (including contingency, owners’ cost and sustaining capital)

 Pre-production capital of US$75.8M based on a significant portion of process plant infrastructure being built ex-China (Yantai Jinpeng Mining Machinery)

 Total undiscounted free cashflows of US$706.21M (A$1,103.45M), pre-tax

 Total U/G LoM production of 17.6Mt @ 2.0 g/t AuEq equating to total production of 1,134,000 oz AuEq over a 9- year mine life

 Pre-tax NPV8% of US$506M (A$791M) and Internal Rate of Return (IRR) of 116.0%

 If a conservative gold price of US$1,550 per ounce is assumed instead of Consensus LT Forecast,After-Tax NPV(8%) is robust at US$239M (A$376M)

The company says the project economics and technical viability ‘are highly encouraging, highlighting its potential to become a low cost gold-silver concentrate producer.’