Phased CIP → RIP → Flotation Strategy
Development pathway for a 3.0 g/t historical tailings resource in a $4,300+/oz gold price environment, structured to maximize NPV while minimizing upfront capital and risk.
One-Page Executive Summary
With gold above $4,300/oz, the priority shifts from designing the perfect flowsheet to identifying the fastest, lowest-CAPEX path to cash flow, then using internal capital to fund metallurgical upgrades.
Phased development arc:
- Phase 1: Direct CIP
- Phase 2: CIP + RIP
- Phase 3: Flotation + Concentrate Leach
Phase 1: Direct CIP
Not optimal long-term, but the cheapest and fastest to build and commission, and extremely profitable at current gold prices even at 40–55% recovery.
Phase 2: CIP + RIP
RIP replaces carbon with resin, solving preg-robbing, fouling, and kinetic limitations, lifting recovery to ~65–75% while reusing CIP infrastructure.
Phase 3: Flotation + Concentrate Leach
Flotation concentrates sulphides into 5–15% of mass, sends preg-robbing carbon to tails, shrinks cyanide footprint, and pushes recovery to 80–85%+.
Slide-Deck Narrative (CIP → RIP → Flotation)
Flowsheet Options
- Direct CIP – simplest, fastest, lowest CAPEX.
- CIP + RIP – metallurgical upgrade to address preg-robbing and fouling.
- Flotation + Concentrate Leach – structural optimization and long-term endgame.
Why Start with CIP?
- Lowest initial CAPEX, no flotation or UFG at the outset.
- Fastest path to first gold and cash flow.
- Provides the operating platform and data needed for future upgrades.
Phased Strategy & Capital
- Phase 1 cash flow funds Phase 2 (RIP retrofit).
- Enhanced cash from Phase 2 helps finance Phase 3 (flotation build).
- Staged CAPEX reduces financing risk and dilution.
Technical Appendix (Summary)
Direct CIP exhibits the highest reagent consumption, TSF load, and environmental liability. CIP + RIP reduces metallurgical risk and improves recovery but does not change the mass balance. Flotation + Concentrate Leach delivers the highest recovery, lowest reagent consumption per tonne, and the smallest long-term ESG footprint.
Overall, the phased pathway is intentionally designed: CIP is the bridge, RIP is the upgrade, and flotation is the destination.