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Doray Minerals - Australia's newest producing gold mine

Doray Minerals - Australia

Corality client Doray Minerals has reached a major mile stone with the first gold poured from the Deflector mine

The Deflector mine is Doray’s second operating mine in Australia which is a big achievement in only four years. Doray has taken advantage of the strong gold price in Australian dollars to acquire the site, which is located in Western Australia's Murchison region, last year and to rapidly complete financing and construction. 

Interview Doray Minerals managing director Allan Kelly talks about the first gold pour at Deflector this week [Listen here]

Doray Minerals engaged Corality for financial modelling in the financing process to develop a bankable project finance model for senior debt analysis.

Corality’s Associate Cameron Galloway, who lead the financial model development for Doray Minerals gold project comments:
“The financing process of a gold project requires significant analysis of all parameters, from construction and operating assumptions to tax and financing. It is essential for management, investors and financiers to have clarity on how various assumptions impact the valuation and debt repayment capacity of the project.” 

Corality has a strong financial modelling track record across all commodities, with particular strengths in iron ore, gold, lithium, coal and copper and Cameron expands on the importance of the financial modelling in the financing process: “bankers want to make sure that the debt repayment capacity is there, even in significant downside scenarios such as a construction delay, operational outages, interest rate hikes, or lower than planned grades or volume. By developing a fully dynamic model with assumptions linking back to feasibility studies, this can be analysed by various stakeholders giving them comfort around their investment.” 

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