03:25 PM EST, 02/11/2025 (MT Newswires) -- P2 Gold ( PGLDF ) on Tuesday reported that it has made the final US$100,000 payment to Waterton Nevada Splitter -- an affiliate of Waterton Precious Metals Fund II Cayman -- for the acquisition of the gold-copper Gabbs Project.

A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life.

"We have now fulfilled all of our obligations to Waterton in respect of the acquisition of Gabbs, and with the payment from the sale of the Ball Creek Claims, we are funded through the coming year and into the next," said President and CEO of P2, Joe Ovsenek. "What's more, with the increase in metal prices... Gabbs has an internal rate of return of 43.3% and net present value at a 5% discount rate of US$1.2 billion at today's spot metal prices of $2,909 gold, $32 silver and $4.22 copper."

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