RTG Mining Inc. Announces Mabilo Stage 1 Cost Update

RTG Mining Inc. has provided a cost update for Stage 1 of the Mabilo Project in The Philippines, keeping the capital costs under US$25M, as initially quoted. After a review in February 2024, it was confirmed that there haven't been significant changes in the capital costs, with a detailed breakdown provided for various project components, including mobilisation, mining facilities, topsoil removal, and more, summing to a total of US$21.53M.

Additionally, operational costs were slightly reduced compared to the last review in 2021, despite increases in some areas. These adjustments were offset by reductions in shipping, supervision, and overhead costs. The detailed operating cost now totals US$32.14M. Key expenses include site G&A, mining supervision, contractor overhead, and shipping, among others.

RTG's CEO, Justine Magee, commented on the financial strength of Stage 1 and the company's confidence in the project, which is moving forward into the development phase. This update reflects the company's ability to manage costs effectively amidst industry challenges over the past years.