Key points
- Updated Liontown Mining Study outlines production target of ~80Koz Au @ 2.59g/t Au and 952Koz Ag @ 30.99g/t Ag
- Study provides ~10% improvement in net operating cashflow and ~6% reduction in all-in sustaining cost
- Production commencement from Liontown to align with Mt Moss Processing Facility completion
- Mining and environmental approvals are well advanced with early contractor engagement underway
Full summary
Sunshine Metals Limited (ASX:SHN) has announced an updated Mining Study for the Liontown gold operation, part of the Ravenswood Consolidated Project in North Queensland. The updated study, based on the July 2026 Mineral Resource Estimate, delivers stronger economics than the earlier February 2026 study, with a production target of approximately 80,000 ounces of gold at 2.59 grams per tonne and 952,000 ounces of silver at 30.99 grams per tonne. The study provides a 10% improvement in net operating cashflow and a 6% reduction in all-in sustaining cost. The financials of the updated study include gross revenue of approximately $497.5 million, net operating cashflow of approximately $179.8 million, and mined gold and silver of 79,541 ounces and 951,732 ounces, respectively. The study also highlights the progress in mining and environmental approvals, with early contractor engagement underway to support a mid-2027 commencement.
Guidance
Updated Liontown Mining Study financials: gross revenue ~$497.5M, net operating cashflow ~$179.8M, mined gold 79,541oz, mined silver 951,732oz
Outlook
Sunshine Metals Ltd is on track for first gold production from Liontown in mid-2027, with mining and environmental approvals well advanced. The company is also progressing with the refurbishment of the Mt Moss Processing Facility to support production.