The Tujuh Bukit porphyry deposit is the largest and most exciting discovery in Indonesia, and perhaps the world, in recent times. A total of 1.9 billion tonnes inferred global resource of ore at an average grade of 0.45% of copper and 0.45 gram per tonne of gold containing 8.7 million tonnes of copper and 28 million ounces of gold.
In early 2018, work began on feasibility study activity for the underground development of the exploration decline and progressed encouragingly towards the development of a long life, low cost underground copper/gold mine. A pre-FS is expected to be completed in 2021. Subsequent to completion of the pre-FS, we expect a full FS should be able to be completed with moderate additional cost. The bulk of the expenditure for the feasibility activity is being spent on an exploration decline and drilling. The decline is completed on June 2020 and drilling expected to be completed in 2021.