Financial data of the project

The Perama gold mining Project will consist one of the most important investments in the area of Thrace with positive contribution to the economy and quality of life of the residents of the area, while guaranteeing, at the same time, the strictest standards of environmental operation and social responsibility.
“Thracean Gold Mining S.A.” is the investor of the Perama Gold Mining project in Thrace with an investment capital of 150 million euros, while an additional 190 million euros shall be invested in the area over a period of ten years. There will be 200 direct jobs, and there will also be 800 indirect jobs.
The revenues of the Perama Gold Mining project are estimated to 660 million euros. Furthermore, it must be remarked that the taxes (40%) from the operation of the Project are estimated to 260 million euros and consist a reasonably significant contribution of the Project to the national economy (the calculations have been performed with a price of gold of 1,400 dollars per ounce). It is also very important to mention that approximately 70% of the capital investment and 100% of the operation cost are expected to remain in Greece, and more particularly in the region of Thrace, in the form of salaries, services, supplies, engineering projects, transport, energy, etc.

The Perama Gold Mining project, according to the social analysis cost-benefit study that has been prepared by the National Technical University of Athens (2003, prof. K. Panagopoulos, D. Kaliabakos), is considered as socially beneficial in financial terms. In the analysis the environmental dimension has been also taken into account. The two financial factors, the Social IRR (internal rate of return) and the Social NPV (net present value), which have been measured on a social basis, are positive in all evaluation scenarios.