Credit: Karora ResourcesĮxpansion work includes developing a second decline at the Beta Hunt mine and the second phase of mill expansion at Higginsville to 2.5 million tonnes annually. Karora Resources’ Higginsville mill in Australia. It has sold its 28% interest in the Dumont nickel project and is concentrating on doubling annual production to 200,000 oz. The company, which recently changed its name from RNC Minerals, is focusing its efforts on becoming a pure gold play. Karora Resources (TSX: KRR US-OTC: KRRGF) has two producing mines in Western Australia - the Beta Hunt underground gold and nickel mine and the Higginsville gold operation. of gold in all categories.įocus is concentrating its efforts on transitioning both Coolgardie and Laverton to mine-ready projects by growing its resource base and preparing for eventual mining. ![]() The Laverton resource includes 921,000 measured tonnes grading 2 grams gold per tonne, 42.4 million indicated tonnes at 1.6 grams gold, and 17.9 million inferred tonnes grading 2.5 grams gold. With a refurbished Barnicoat mill, the project metrics include a pre-tax net present value (5% discount rate) of A$132 million ($98 million) based on mining oxide and transition material in five deposits. ![]() Focus is interested in expanding open pit resources, testing underground targets, and exploring targets that could lead to large-scale bulk mining at Laverton.Ī prefeasibility study for the first stage of production at Laverton was completed in March. The Laverton property includes the high-grade underground Lancefield gold mine as well as several large open pits that have been mined by Focus and its predecessors. The company is planning an exploration program to test the potential for new, higher grade orebodies near the mill as well as a regional program near Coolgardie. The project carries an after-tax net present value at a 7.5% discount rate of A$183 million ($136 million) and an internal rate of return of 71%.įocus is the largest landholder in the Coolgardie camp, and has explored only 2% of the area so far. The remaining A$20 million ($14.8 million) will go toward the development of two open pits and an underground mine. About A$28 million ($20.8 million) of the A$48 million ($35.7 million) pre-production capex budget is to be spent rehabilitating the existing Three Mile Hill mill and tailings containment. Stock image.Īn updated prefeasibility study for Coolgardie outlines proven and probable reserves of 6.6 million tonnes grading 1.97 grams gold for 422,000 ounces. The government is seeking more than $5.4 million from the company for the unpaid taxes, interest, and costs of the lawsuit.Coolgardie, Goldfields, Western Australia. In its statement of claim, which has not been proven in court, the Department of Finance says Canadian Antimony Mine failed to file an annual return and didn't pay more than $3.7 million in taxes on the proceeds from the revenue-sharing agreement.
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