Kinross Gold (TSX: K; NYSE: KGC) has raised the projected cost of its Lobo-Marte gold project in Chile by nearly two-thirds to $1.8 billion (C$2.5 billion), though the post-tax net present value is still estimated at $4.3 billion. At $3,500 gold, Kinross estimates a $3.2-billion net present value, 22% return and 2.7-year payback. Indicated resources stand at 120.8 million tonnes at 0.71 gram per tonne for 2.75 million oz., while inferred resources total 32.9 million tonnes at 0.63 gram for 670,000 ounces. The operation would process 161 million tonnes of ore through a three-stage crushing and heap-leach plant rated at 35,000 tonnes per day. Growth scopeThe initial plan would recover 4.6 million oz., leaving much of the project’s resource outside the reserve pits.