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hier steht es !!!! Green light for Davyhurst -------------------------------------------------------------------------------- Tuesday, 6 March 2007 MONARCH Gold Mining has today announced the go-ahead for its Davyhurst gold project in the Eastern Goldfields, with the project online for first gold production in late June. In a statement to the market, Monarch said it would immediately start refurbishing the Davyhurst mill, including the processing plant, administration office and 120-person camp, following the appointment of processing plant specialists, GR Engineering Services, at a cost of $5 million. Monarch is also looking to appoint a mining contractor ahead of preparation for mining in May. Monarch executive chairman Michael Kiernan said achieving project go-ahead status was a significant milestone for the company's shareholders. Last month, Monarch bought the mining rights to the Mt Ida gold deposits, located 150km north of the Davyhurst mill, from International Goldfields for $4 million. Mt Ida is home to a high-grade nuggety resource of 143,000 tonnes grading 24 grams per tonne for 110,650oz gold. "We are certainly on track to commence mining gold ore from Davyhurst in late June and Mt Ida late July with our initial gold pour planned for late July," Kiernan said. He added the total target production for the next 12 months from Davyhurst and Mt Ida would be 125,000oz. Davyhurst will deliver 75,000oz of gold at an estimated cost of $US500 per ounce and Mt Ida will deliver 50,000oz of gold at an estimated cost of $US330/oz. "With a gold price around $US650/oz, the Davyhurst and Mt Ida mines will create a healthy profit for our shareholders," Kiernan said. With the purchase of Mt Ida, Monarch believes it has boosted its ability to meet its stated goal of 500,000ozpa gold production by December 2009. Monarch paid $5 million to acquire Davyhurst in November 2005, with the plant having been in care and maintenance for the last 15 months. |
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| aus der Diskussion: | 500000 UNZEN GOLD PRO JAHR PRODUKTIONSBEGINN |
| Autor (Datum des Eintrages): | hainholz (24.04.07 17:45:31) |
| Beitrag: | 105 von 2,239 (ID:28975033) |
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