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Mutiny Gold Appoints Rowan Johnston And Paul Wright To The Board

Mutiny Gold (ASX: MYG) has appointed Rowan Johnston and Paul Wright to the board as Non-Executive Directors, adding valuable experience from mining operations and legal perspectives - as the company continues on the path to production.

Johnston is currently an Executive Director at Integra Mining (ASX: IGR), joining the company in October 2007 where he has been an integral part of the company's transition to producer.

His significant experience in project start-up, operations, both surface and underground, and resource development in its gold mining projects, is of direct relevance to Mutiny's development of the Deflector Deposit.

The Deflector resource contains JORC Resources of 2.87 million tonnes at 6.41g/t gold, 6.82g/t silver and 0.95% copper for 729,000 ounces of equivalent gold, including 591,000 ounces gold, 628,000 ounces of silver and 27,000 tonnes of copper using a 0.5g/t gold cut-off grade.

In regards to Wright - he has a broad range of experience in the legal sector, with specialist expertise in resource based project financing, related hedging and off-take documentation.

He has acted on transactions for both sponsors and lenders, domestically and overseas, with experience including gold, nickel, copper, iron ore and oil and gas financings in Australia and, among other jurisdictions, Brazil, the United States, Indonesia and West Africa.

John Greeve, managing director of Mutiny, commented: "Rowan and Paul's considerable experience in all aspects of mining operations and financing transactions respectively makes them invaluable additions to our Board, especially as the Company ramps up the development phase of our Deflector deposit."

BFS - Deflector confirmed as premium, low cost gold-copper project

A Bankable Feasibility Study completed during the June quarter has confirmed Deflector as a low cost, highly profitable, premium gold-copper project.

Deflector could earn an estimated net operating cash flow of $342 million - and that is just the start.

The key financial outcomes of the study include a net operating cash flow after debt (project finance) and taxes of $171 million; EBITDA of $323 million; net profit of $171 million; a net present value at 8% of $103 million; capital costs for plant construction of $66 million; capital costs for mine construction of $21 million; and an internal rate of return of 43%.

The study paves the way for the development of the project at an initial production rate of 55,000 gold ounces equivalent (annual range 44,600 in year one to 61,612 gold ounces equivalent).

There is a forecast low average operating cash cost of $617 per gold ounces equivalent and an initial mine life of seven years.

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