Navigator Resources plant 150000 Oz. Gold

jährlich zu produzieren - es scheint ein Erfolg zu werden, wenn man dem letzen Bericht liest.

Der Erzgehalt ist um 66% höher als geplant gewesen.

LEONORA TRIAL MILLING UPDATE
Navigator Resources Ltd (ASX: NAV) is pleased to provide the following progress report
on the first ore processing trial completed in April 2010 from its 100% owned Leonora
Gold Project (LGP).
Highlights
* 8,918 tonnes Bruno open pit ore milled.
* Excellent gold recovery of over 98%.
* Reconciled ore grade of 2.83g/t significantly higher than the average
grade estimated by the Resource modelling.
* 796.8oz of gold produced which generated $1 million of revenue.
* No metallurgical issues identified.
* Next milling campaign commenced yesterday (13 May).
The first parcel of ore in the 75,000 tonne trial mining and milling program was milled
through St Barbara Limited’s Gwalia processing plant during the period 13th to 19th
April 2010.
St Barbara’s processing plant is designed for treating predominantly hardrock/primary
ore. However, having regard to the mine schedule and availability of ore, it was
decided to process exclusively Bruno supergene ore as the first ore parcel. This has
enabled Navigator to test the grade of the Bruno supergene ore compared to the ore
grade as estimated by Resource modelling of material from within the pit design.
Significant rain during ore haulage resulted in damp supergene clay ore from Bruno
being delivered to the mill. This resulted in lower throughput rates than would normally
be expected from oxide material.
Mill throughput averaged less than 100 tonnes per hour, which is below the optimal
throughput level of the plant and less than St Barbara’s throughput on underground
hardrock ore. Due to the soft nature of the ore and the slow feed rate, the grind was
very fine with 100% passing 75 microns with a mean of ~20 microns. This led to low
levels of gold reporting to the gravity circuit and the majority reporting to the leaching
circuit.
Despite the low amount of gravity gold, recovery through the plant was very high at
98.2% which confirmed that the ore is amenable to normal CIL treatment methods.
The average grade of the Bruno ore from within the pit design had been estimated at
1.7g/t gold. The final plant reconciliation head grade was 2.83g/t gold, thus indicating
an overcall of 66% for the gold grade of the processed ore. The overcall is significant
and whilst the Company believes this first parcel of ore was representative of the ore
mined to date from the Bruno pit, the next milling campaign will add further
information on whether this grade uplift could reasonably be expected over the entire
Bruno pit.
Results Summary
Tonnes Milled 8,918 tonnes
Head Grade 2.83g/t Au
Recovery 98.2%
Fine Gold Produced 796.8oz
Sale Value A$1,007,000
NEXT MILLING CAMPAIGN
The second milling campaign commenced yesterday (13 May) and it is intended to
treat approximately 25,000 tonnes of material which will comprise a blend of Mert 2
hard rock and Bruno soft supergene ore types. This mix has been selected to provide
a better flow of material through the plant which will result in less hang-ups and
therefore better throughput rates.
Navigator continues to gain valuable information and remove mining and processing
uncertainties, thereby obtaining greater confidence in its decision making aimed at the
LGP becoming its second producing gold operation.
Managing Director
NAVIGATOR RESOURCES LIMITED
For Further Information:
Please direct any queries, or requests for further information, to:
David Hatch
Email: navigator@navigatorresources.com.au
Tel: (08) 9226 5311
ABOUT NAVIGATOR
Navigator Resources Limited (ASX: NAV) transitioned from explorer to producer in April
2010 and its objective is to build value for shareholders by becoming a highly regarded
and profitable gold producer with a pipeline of advanced projects.
The Company acquired the Bronzewing Gold Project (located 960km northeast of
Perth) in late 2009, and this Project recommenced production in April 2010. Navigator
also continues to pursue development opportunities at the Leonora Gold Project
(located 830km northeast of Perth) by initially carrying out a trial mining program.
Both gold projects are well located with respect to regional infrastructure, being in the
heart of the northeastern goldfields region of Western Australia. All required mining
permits and granted mining leases are in place both at Bronzewing and Leonora. The
Company’s medium term objective is to target 150,000oz pa of gold production from
these two open pit projects.
Navigator also maintains an interest in assets in the East Kimberley region of WA,
including the 100% owned Cummins Range Rare Earth Project.  

bin bei meiner Order da zu geizig gewesen..  

mal schauen, ob und wann sich mir ein einstieg bietet.  

heute könnte man günstig einkaufen, aber vielleicht kommt sie noch ein bisschen runter.  

Ich hab heute günstig eingekauft..   :-)
Realisiert habe ich es gerade erst durch Dein Posting - und den anschließenden Blick ins Depot.
Ehrlich gesagt habe ich nicht unbedingt damit gerechnet, dass meine Frankfurter Order von heut morgen (einfach mal pari zu Australien eingestellt) ausgeführt wird.

Gruß

PS.:
In Australien ausgebuddeltes Gold läuft zur Zeit nicht ganz so gut, wohl wegen der geplanten Tax.
Adamus, die Gold demnächst in Ghana fördern, haben ihren Kursanstieg gegenüber der ASX heute u.a. mit dem
Hinweis begründet, dass wegen der Steuer anscheinend entsprechend umgeschichtet wird!  

Stuttgart hat auch noch geliefert.. :-)  

hat der Kurs deine Wünsche überhört. ;)  

http://www.navigatorresources.com.au/files/files/...AP_Bronzewing.pdf

Bericht könnt evtl. auf dem Kopf stehen, ist aber drehbar.


Aktuell beträgt die Marktkapitalsierung ca.74 Mio AUD halbwegs vergleibare Titel wie FML, SLR, SAR haben die doppelte, wenn das ramp-up weiter erfolgreich sein sollte dürfte man sich über eine solche freuen und das ohne, dass der Goldpreis steigt, der aktuell bei ca. 1400 AUD steht.

bei 600 AUD/je Oz. Gewinn, wäre ein cashflow von ca. 90 mio AUD pa. möglich. Über das Minelife von 5 Jahren läge er bei insgesamt 450 Mio AUD. Bei Bronzewing gibt es noch die Möglichkeit, dass es auch für 10 Jahre reicht.

Natürlich kann der Goldpreis steigen es kommen pro 100 AUD Goldpreisanstieg 15 Mio AUD pa. (auf 5 Jahre gerechnet 75 Mio AUD ) dazu. Natürlich können auch die Produktionkosten steigen, was sich dann wieder dem entsprechent negativ auswirkt.  

bei den Goldpreisen kann sie eigentlich nur nach oben ausbrechen... geht in Richtung 1500 AUD  

aber unverhältnismäßig, da selbt FML und SLR sich stark unterscheiden

http://www.rohstoff-welt.de/news/...-Lake-Resources-Ltd.-im-Vergleich

MarktKap:74 Mio AUD

Produktion: ca. 37500 Oz./Quartal

Produktionskosten ca. :800 AUD

Cash: 8,5 Mio AUD  

BRONZEWING GOLD PROJECT RESOURCES & EXPLORATION UPDATE
Emerging Perth-based gold production company Navigator Resources Limited (ASX: NAV) is pleased to announce an increase in Total Resources at the Bronzewing Gold Project (BGP).
Highlights
*Total Resources increase by 11% from 850,000oz to 946,000oz
*Exploration programs underway at Eagle and planned for Vulcan prospect
*Comprehensive operations update scheduled for release on 2 June 2010
In line with previous market advice that NAV intends to increase mine life at Bronzewing from five to ten years, the Company is pleased to report on an early increase in the Total Resources, together with its initial field exploration activities.
The Total Resources for the Bronzewing Gold Project have been increased by 11% from 850,000oz gold to 946,000oz gold. The additional resources are located at Corboys, Mt Joel and Challenger.
Revised resource estimates have been completed for the Corboys prospect following a 7,000m RC drilling program completed in February this year. The previous Total Resources at Corboys were 2.30Mt @ 1.9g/t Au for 138,000oz gold. The revised estimate of 184,000oz gold thus represents a 33% increase in Total Resources and a 73% increase in Indicated Resources at Corboys. These new resource estimates for Corboys are based on extensive drilling by previous owners and more recently by Navigator. They included revised geological interpretations and are not constrained by any pit shells.
Initial resource estimates have been completed for two prospects at Mt Joel, which:
*are based on extensive drilling by previous owners;
*have also been subjected to re-interpretation; and
*are also not constrained by any pit shells.
The updated mineral resources for Challenger are based on previously estimated block models which have been reviewed by Navigator and are constrained by recently determined optimised pit shells at a gold price of A$1,250/oz.
The Central and Success open pit resources have not been depleted for the recent production that has occurred in those two areas during April and May.
The new resources for the Bronzewing Gold Project are tabled below:
EXPLORATION UPDATE
A 700m RC drilling program is planned this month at the Vulcan prospect on the southern end of the McClure trend. Surface rock chip samples in this area have yielded a number of high grade samples ranging up to 99g/t Au.
Current exploration activities at Bronzewing include a Bulk Leach Extractable Gold (BLEG) soil sampling program at the Eagle prospect where gold nuggets were discovered during authorised prospector activity late last year. Approximately 1,000 soil samples will be collected in the overall program.
A number of prospects are being reviewed where previous drilling has outlined mineralised zones that do not yet meet the conditions for a JORC compliant resource. These areas include Katherine Well, Woorana, Anomaly 45 and Lily Well-Fox. Rapid optimisations of current block models for these prospects will help determine the scope of future drilling programs that may be required.
The Company looks forward to reporting further progress as more information becomes available.
Managing Director
NAVIGATOR RESOURCES LIMITED
For Further Information:
Please direct any queries, or requests for further information, to:
David Hatch
Email: navigator@navigatorresources.com.au
Tel: (08) 9226 5311
ABOUT NAVIGATOR
Navigator Resources Limited (ASX: NAV) transitioned from explorer to producer in April 2010 and its objective is to build value for shareholders by becoming a highly regarded and profitable gold producer with a pipeline of advanced projects.
The Company acquired the Bronzewing Gold Project (located 960km northeast of Perth) in late 2009, and this Project recommenced production in April 2010. Navigator also continues to pursue development opportunities at the Leonora Gold Project (located 830km northeast of Perth) by initially carrying out a trial mining program.
Both gold projects are well located with respect to regional infrastructure, being in the heart of the northeastern goldfields region of Western Australia. All required mining permits and granted mining leases are in place both at Bronzewing and Leonora. The Company’s medium term objective is to target 150,000oz pa of gold production from these two open pit projects.
Navigator also maintains an interest in assets in the East Kimberley region of WA, including the 100% owned Cummins Range Rare Earth Project.
NOTES TO RESOURCE ESTIMATIONS
Corboys
Resource estimates at Corboys were completed in-house by Navigator Resources Limited (Navigator). The estimates are based on extensive drilling programs carried out over many years by various mining companies and more recently by Navigator. A total of 33,000m of drilling, completed over the last 27 years, exists in the Corboys database of which about 21% has been completed by Navigator.
The following comments are relevant to the Corboys resource assessment:
*Drilling techniques – Only diamond core samples, RC chip samples and aircore samples were used for estimation purposes. No data from RAB drilling was included in the estimates.
*The top cut applied was 25g/t Au based on statistical analyses of the various mineralised domains.
*The lower cut-off grade was set at the expected economic cut-off.
*Estimation and modelling techniques – model interpolations were by anisotropic inverse distance squared smoothing within an appropriately dimensioned block model.
*Metallurgical factors – mineralisation from Corboys has been previously subjected to metallurgical testwork with gold recoveries being achieved.
*Bulk density data values have been estimated from historical testwork on diamond drill core samples of selected weathered and fresh lithologies.
Mt Joel 4800N and 6100N
Resource estimates at Mt Joel were also completed in-house by Navigator. The estimates are based on extensive drilling programs carried out over many years by various mining companies. Navigator has not undertaken any drilling at Mt Joel.
The following comments are relevant to the Mt Joel resource assessments:
*Drilling techniques – Only diamond core samples, RC chip samples and aircore samples were used for estimation purposes. No data from RAB drilling was included in the estimates.
*The top cuts applied ranged from 15-25g/t Au based on statistical analyses of the various mineralised domains.
*The lower cut-off grade was set at the expected economic cut-off.
*Estimation and modelling techniques – model interpolations were by anisotropic inverse distance squared smoothing within an appropriately dimensioned block model.
*Bulk density data values are conservative estimates based on the known weathered and fresh lithologies.
Note: NAV has a 70% interest in the Mt Joel tenements.
Challenger
Resource estimates at Challenger are based on a block model estimates reviewed by Navigator. Navigator has not undertaken any new drilling at Challenger however it is likely that additional drilling to further increase the Resources will occur in the coming months.
The following comments are relevant to the Challenger resource assessments:
*Drilling techniques – Only diamond core samples and RC chip samples were used for estimation purposes. No data from RAB drilling was included in the estimates.
*The top cuts applied ranged from 10-20g/t Au based on statistical analyses of the various mineralised domains.
*The lower cut-off grade was set at the expected economic cut-off.
*Estimation and modelling techniques – model interpolations were by ordinary kriging (OK) within an appropriately dimensioned block model with validation by a separate ID2 model.
*Bulk density data values are based on values determined from mining in adjacent pits.
Sections of information contained within this report that relate to Mineral Resources of the Cockburn and Central prospects of the Bronzewing Gold Project are based on information compiled by David Slater who is a full-time employee of Coffey Mining and a Member of the Australasian Institute of Mining and Metallurgy. David Slater has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. David Slater consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Sections of information contained within this report that relate to Mineral Resources at Corboys, Mt Joel 4800N, Mt Joel 6100N, Success, Challenger and Low Grade Stocks are based on information reviewed by Bernie Kirkpatrick, who is a full-time employee of Navigator Resources Limited and a Member of the Australasian Institute of Mining and Metallurgy. Bernie Kirkpatrick has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Bernie Kirkpatrick consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.  

Schon wieder ein Update- aber die großen Käufer sind noch ausgeblieben


OPERATIONS UPDATE: BRONZEWING & LEONORA
Emerging Perth-based gold production company Navigator Resources Limited (ASX:
NAV) is pleased to provide the following operations update from its Bronzewing and
Leonora Gold Projects (BGP & LGP).
Highlights
* Bronzewing mill operating at budgeted 2.0Mtpa throughput rate
* Current Bronzewing plant recovery at approximately 90%
* Bronzewing mill feed now predominantly ROM ore from open pits
* Bronzewing RC grade control drilling predicting 8-15% more ounces
than ore reserve
* Plant throughput rate increase initiatives being pursued
* Leonora T2 ore parcel reinforces positive grade reconciliation
performance of Bruno supergene ore
* Leonora T3 ore treatment underway
* Surplus Bruno supergene ore being road hauled to Bronzewing
* Leonora development analysis to include prospective, standalone, low
capital, low operating cost treatment of Cardinia supergene ore
BRONZEWING GOLD PROJECT
NAV announced on 9 April 2010 that it had commissioned the Bronzewing processing
plant on low grade ore and subsequently announced on 22 April 2010 that it had
poured its first gold.
Since that time the Company has been increasing mill throughput and progressively
substituting low grade ore with run-of-mine (ROM) ore generated from open pit
mining. The Company is providing this update on progress as it moves towards its
target of 100,000oz per annum of gold production.
Daily mill throughput has progressively increased to a sustained annualised production
level of 2.0Mtpa as demonstrated in Figure 1 below.
The temporary interruption to the increasing throughput trend on 6/7 May 2010
occurred due to a short mill shutdown, which was extended by a faulty electrical circuit
breaker causing a delay in the mill restart.
Mill recovery is now averaging just under 90% although this is expected to increase to
92% with the achievement of full scale ROM ore presentation from the open pits and a
steady state, consistent feed blend occurring. Recovery has increased, as
demonstrated in Figure 2, as higher grade ore has been substituted into the mill feed.
Average monthly mill production of 167,000 tonnes of ore is required to achieve the
forecasted annual rate of 2.0Mtpa. Actual mill throughput achieved for May 2010 was
148,000 tonnes, which concurs with the Company"s internal ramp up prediction for May
of 150,000 tonnes processed. As noted above and demonstrated in Figure 1, daily mill
production is now running at the planned annualised rate.
NAV previously advised in its presentation to the Sydney Resources Round-up on
11 May 2010 that open pit mining in "Central Pit will provide more than 50% of the mill
ore feed by the end of May 2010" and that "Success Pit ore production to blend with
Central Pit ore" was "scheduled by June 2010".
The Company is pleased to report that actual ore mined from Central Pit during May
2010 totalled 110,000 tonnes, amounting to 73% of the required monthly mill feed.
Ore mining has also commenced at Success Pit and processing of this higher grade ore
will commence in early June 2010.
The daily trend of contained gold presented to the mill since commissioning is shown in
Figure 3 below. The rising trend is a reflection of the increasing daily mill throughput
rate and the systematic replacement of low grade ore with higher grade ROM ore
generated from Central Pit.
The Company has now concluded two substantial programs of RC grade control drilling
and has modelled the assay data utilising the widely accepted, industry standard
software MP3. Overall indications are that when compared to the mining reserve ore
blocks, MP3 is predicting 8-15% more ounces of gold, but that there are more ore
tonnes at a slightly lower grade. See Table 1 below for a summary of the results of
the two grade control programs.
It is too early to report on reconciliation of modelled/predicted ore tonnes compared to
the mill performance due to inadequate mill history to draw meaningful comparisons.
NAV expects to be able to report in more detail on the performance of mining reserve
versus grade control versus reconciled mill performance in the June 2010 Quarterly
Report.
In the meantime, NAV has implemented two new initiatives. A specialist consulting
mine geologist has been engaged to work with the Bronzewing geological team to
further enhance the modelling process against what is predicted in the reserve and
what is mined.
In addition, the Company is targeting technical initiatives aimed at increasing
processing plant throughput to above budgeted levels as well as enhancing overall mill
performance. These initiatives are being driven by the operations management group
with support from an independent metallurgist who has undertaken a comprehensive
metallurgical audit.
To the end of May 2010, an estimated 6,400oz of recovered gold has been produced
with approximately 4,000oz of gold being poured (awaiting final refinery outturns from
the largest pour to date on 1 June 2010). The difference is the gold in circuit.
NAV is pleased to confirm its previous market advice of 13,000oz of gold to be
produced in the June 2010 quarter.
LEONORA GOLD PROJECT
Open pit mining at the Leonora Gold Project to complete the 75,000 tonne trial is
coming to an end. This trial has been a great success for NAV, as explained below.
Mining in the Mert 2 hardrock pit is now complete and mining in the Bruno supergene
pit will conclude in the coming week.
Mining conditions in the Bruno supergene open pit have been better than expected.
Free dig excavation from surface to full design pit depth of 32.5 metres has been
confirmed. Anticipated difficult haul truck trafficking conditions have not occurred.
Mining unit costs and productivity projections have been confirmed so that there is
now a high level of confidence in modelling future mining key performance inputs.
As previously advised, the first parcel of ore processed at St Barbara Limited"s (ASX:
SBM) Leonora mill (T1) consisted exclusively of Bruno supergene ore. As expected,
the damp clay did present some materials handling problems in SBM"s plant, which is
designed to treat predominantly hardrock ore, however the Bruno supergene ore
demonstrated a substantial grade uplift effect of some +60% and very high plant
recovery. T1 summary results were as follows:
During May, the second ore parcel (T2) was processed. T2 consisted of a blend of
Bruno supergene ore and Mert 2 low grade hardrock ore. Blending the hardrock ore
with Bruno ore saw the achievement of significantly higher mill throughput rates (T2:
120tph compared to T1: 83tph). T2 ore parcel results are summarised in Table 3
below.
Importantly, the positive grade trend for the Bruno supergene ore observed in T1
continued for T2.
Geostatistical modelling of the Bruno supergene ore included the application of a 15g/t
Au top cut to previous drill assays. That is, assays higher than 15g/t were reduced to
15g/t Au. The cut and uncut Bruno Pit mining inventory estimates are summarised in
Table 4 below.
Indications from actual mill trials (T1 and T2) are that the grade of the Bruno
supergene ore more closely approximates the uncut mining reserve grade than the
estimate in which a 15g/t Au top cut is applied.
NAV is pleased to advise that the third parcel of Leonora ore (T3) consisting of a mix of
Bruno supergene and higher grade Mert 2 ore commenced on 1 June 2010. Results of
T3 will be announced upon completion.
Encouraged by the processing and grade performance results of the Bruno supergene
ore, NAV decided to continue mining ore from Bruno Pit beyond the requirement for
the 75,000 tonne ore trial (40,000 tonnes of Bruno ore and 35,000 tonnes of Mert 2
ore). In generating the initial 40,000 tonnes of Bruno ore, NAV removed the bulk of
the waste material contained within the pit design so that the remaining ore within the
pit design could be mined with a low waste:ore strip ratio of 1.7:1.0.
Mining of the Bruno open pit to final depth of 32.5 metres to generate a total of more
than 90,000 tonnes of ore will conclude in the coming week.
NAV has evaluated the cost of transporting and processing Bruno ore that is surplus to
the 75,000 tonne ore trial commitment with SBM, as well as determining the likely
timeframe for SBM to process the surplus ore. The combined cost of road haulage and
mill processing at Bronzewing compares favourably with the cost structure for treating
at SBM"s plant in Leonora. Therefore the decision was made to mine the additional ore
for transport to Bronzewing for processing.
NAV commenced the road haulage of some 400-500 tonnes per day of Bruno ore to
Bronzewing on 7 May 2010.
Dozer shaping at waste dumps is occurring to enable NAV to close out the trial mining
regulatory requirements. At Bruno, this work also includes topsoil spreading and crossripping
ready for seeding.
Based upon the results of the Leonora trial ore mining and processing to date, NAV will
now begin assessing its options for developing Leonora into its second producing gold
mine.
In addition to the project configuration as defined in the Pre-Feasibility Study (PFS)
(results released in March 2009) where Cardinia supergene ore would be blended with
more competent Mertondale ore, NAV will assess the viability of a staged development
at Leonora.
It is not yet clear whether the grade uplift effect observed to date with Bruno Pit
supergene ore applies across the wider Cardinia supergene system. NAV will however
evaluate whether a low capital, low unit cost, purpose built processing facility to
exclusively treat Cardinia ore is a sensible alternative to the higher capital, centralised
processing facility contemplated in the Leonora PFS.
In the event that the grade uplift effect experienced to date is demonstrated to apply
across the wider Cardinia supergene system, NAV believes that a low capital, circa
500,000tpa processing facility could produce 30,000-40,000oz of gold per annum at a
unit cash operating cost at or below A$600 per ounce, with an initial mine life of
approximately four years.
The Company looks forward to reporting further progress as more information
becomes available.
Managing Director
NAVIGATOR RESOURCES LIMITED
For Further Information:
Please direct any queries, or requests for further information, to:
David Hatch
Email: navigator@navigatorresources.com.au  

aber dem Verharren des Kurses nach scheint dieser kleine Zuwachs bereits eingepreist zu sein. Mal warten bis die Produktion läuft (nicht nur die Testläufe) und vielleicht sogar eine News aus Richtung der Seltenen Erde Projekte kommt. Das könnte NAV endlich mal ein wenig ankurbeln.

Grundsätzlich finde ich schon interessant, in welch kurzem Zeitraum man dort vom Kauf der Schürfrechte zum Anlaufen der Produktion gekommen ist. Noch dazu mit nach oben korrigierten Zahlen, also positiv.  

 

 

Navigator gehört mir ganz allein................

-15,44%.

Ohne News sind das alles nur Schwankungen.  

CBH Resources (896775)

Die Mine Läuft profitabel aber sie Aussis sind wegen der Vergangenheit vorsichtig.

BRONZEWING GOLD PROJECT
Further to its announcement of 28 June 2010, the Company is pleased to advise that
refinery out-turns have been received for the largest weekly gold shipment to date
undertaken at the Bronzewing Gold Project. The seven bars of bullion returned an
average gold purity in excess of 93%, resulting in a fine gold return of 2,165oz and
revenue of over A$3 million being generated.
The last gold pours for the month, and the June quarter, will take place during the
current week and final production figures will be announced when available.
Managing Director David Hatch said “The latest out-turns demonstrate that the
initiatives being implemented by the Bronzewing site management team relating to
plant throughput and recovery are having a positive impact. The ramp up in
production activities is coming to a successful conclusion with the operation on track to
achieve its 100,000oz annual production target heading into the 2010/11 financial
year.”
“It is also pleasing to note that recoveries through the processing plant are now
running at around 95%, well in excess of the 91% recovery used in the financial
banking model.”