Integra Mining continues to develop the vast potential of the Randalls Gold Project in Western Australia, with the latest positive for the company a 94% reserve boost to 480,000 gold ounces. The reserves estimate is now 6.0 million tonnes at 2.5 grams per tonne (g/t) gold for a contained 480,000 ounces, based on four open pit sources only, and comes less than a year after the first gold pour at the project.
This provides the enticing potential opportunity for underground production, which is not yet included in current ore reserves. Chris Cairns, managing director, told Proactive Investors today, that the only real means of assessing the potential production performance of the Cock-eyed Bob, Santa and Maxwells gold deposits as underground operations is to develop them. "In a nutshell, it is cheaper to develop for trial mining than it is to drill them and the trial mining gives us a much more realistic outcome – with associated revenue – than would any amount of drilling. "As for FY2012 revenue, we are investing in the business by reducing debt by a further $20 million, spending $23 million on exploration, expanding the process facility capacity by 25% for $12 million and risk-funding underground trial mining at Cock-eyed Bob for $8.2 million."...
0 comentarios