Posts Tagged ‘Silver mining’

ASX Company News: Alcyone Resources Silver Plant To Ramp Up Production

Tuesday, September 13th, 2011

Alcyone Resources Limited (AYN) is pleased to advise that it is on track to ramp-up silver production at its 100%-owned Texas Silver & Polymetallic Project in south-east Queensland to a targeted annualised  rate of 1.5 – 2.0 million ounces per annum following excellent progress in the first four weeks of wet commissioning of the upgraded Twin Hills processing facility.

Wet commissioning of the upgraded crushing circuit and heap leach processing facility commenced on the 12th of August and the plant, at current throughput of 140tph, is already operating at close to its nameplate capacity of 150 tonnes per hour (tph), which equates to an annualised throughput rate of 1 million tonnes per annum (Mtpa). The crushing facility is performing well with 100 per cent of material passing 4mm – one of the key parameters to achieving design leach rates.

The commercial-scale Merrill Crowe circuit, which is used to extract the silver from solution, replaced the pilot scale plant on the 24th of August. The circuit is currently running at nameplate capacity of 200 cubic metres per hour, resulting in a significant boost to bullion production. The automation package, which is expected to be activated within the next 10 days, is expected to further enhance overall process productivity. The overall silver recovery circuit is currently achieving recoveries from solution of more than 96 per cent, compared with the targeted level, based on previous testwork, of 95 per cent.

As previously advised, installation of the new bullion circuit was completed in July, with the circuit commissioned and producing silver bullion on site.  The bullion circuit has a production capacity of 2 million ounces per annum.

www.alcyone.com.au

http://www.traderdealer.com.au/Fundamentals/ayn

Post to Twitter

ASX Company News: Kingrose Mining Poured First Gold In Indonesia

Monday, August 16th, 2010

One of the world’s lowest cost gold mines started production earlier today when Australian‐listed Kingsrose Mining (KRM) poured its first bars at the Way Linggo mine on the Indonesian Island of Sumatra.

The four bars of dore weighing a total of 5.9kg (a mix of gold and silver) represent the culmination of a 12 month mine development and plant construction phase costing $US12 million. Annual output is expected to be at an initial rate of 45,000 ounces of gold at a cash cost of $US147 an ounce which is more than $US1000 per ounce lower than the current world gold price.

The executive chairman of Kingsrose, John Morris, said the key factor in Way Linggo producing gold at an ultra‐low cost was the high grade of the ore and low capital cost of the project.  “It’s an old saying in mining that grade is king and Way Linggo is the latest example of how important high‐grade ore is to the financial success of a mine,” Morris said.

At Way Linggo there is currently 25,700 tonnes of ore stockpiled on the surface ready for processing.  The ore assays 18.3 grams of gold to the tonne, plus 214 grams of silver which is the equivalent of 3.65 grams of gold. This ore has been extracted as part of development mining and comes from the previously reported JORC compliant measured and indicated resource.

Morris said the first gold pour was a significant milestone for the Way Linggo project which had incurred minor construction delays because of wet weather and hold‐ups in equipment being delivered to site. “Now that we’ve started gold production we can steadily ramp up to the initial target of 45,000 ounces a year, while also planning for future expansion,” Morris said.  “Cash flow from the mine will also enable us to expand exploration efforts in, and around the mine.”  Morris said today’s gold pour was an important step forward for Kingsrose which also has a base metals project on the Italian island of Sardinia where it is working with the regional government to assess the potential for re‐processing large dumps of zinc, lead and silver tailings.

www.kingsrosemining.com.au

http://www.traderdealer.com.au/Fundamentals/krm

Post to Twitter

ASX Company News: Couer d’Alene Mines Corporation Secures China Gold Contract

Thursday, June 24th, 2010

Coeur d’Alene Mines Corporation (CXC) today announced that Coeur Alaska, Inc., a wholly-owned subsidiary, has entered into a contract with China National Gold Group Corporation, China’s largest gold producer, for the purchase and processing of gold concentrates produced at Coeur’s new Kensington gold mine. This agreement is the first of its kind between a state-owned corporation of the People’s Republic of China and a U. S. precious metals mine.

“We are delighted to enter into this major relationship with China National Gold,” said Dennis E. Wheeler, Chairman, President and Chief Executive Officer of Coeur. “This represents a groundbreaking level of business relations between the two companies as this new, major gold mine begins the initial stage of its long production life.”

The Kensington mine, which is scheduled to begin production shortly, is expected to produce 50,000 ounces of gold this year and average approximately 125,000 ounces of annual gold production over an initial 12.5 year life based on current reserves of 1.5 million ounces. The contract with China National Gold relates to approximately half of the concentrates to be produced at Kensington.

China National Gold, a state-owned enterprise headquartered in Beijing, operates approximately sixty gold mines throughout China, representing over 20% of China’s total gold production. In addition to its mining operations, China National Gold also owns and operates a number of smelters and refineries throughout China. China National Gold is the only Chinese gold company that is a member of the World Gold Council. Coeur d’Alene Mines Corporation is one of the world’s leading silver companies and also a significant gold producer. Coeur is also a recognized leader in environmental stewardship and worker safety, with nine national and international awards earned over the past year. The Company also owns underground mines in Argentina and one surface mine in Nevada, and owns a non-operating interest in a low-cost mine in Australia. The Company conducts exploration activities in Alaska, Argentina, Chile and Mexico.

www.couer.com

Post to Twitter