LionGold's gold reserves less than thought
But new technical report sees 96% hike in free cash
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A NEW technical report on LionGold's mine in Bolivia has lowered its estimate of the reserves it holds there, but a higher gold price estimate will see free cash generated from the mine increase 96 per cent to US$269 million.
The company also plans to develop the project in two phases to reduce risks.
The latest report, by AMC Mining Consultants, in an update to a 2011 study, took a different approach to interpret the mineralisation in the mine with new available data.
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