Bullabulling Gold forecasts further staff appointments and drilling to commence in the current quarter, according to a quarterly activity report for the three months ended December 31st.
The mining company unveiled details of its pre-feasibility study for the Bullabulling Gold Project in which it anticipated a base case production of 1.95m ounces over the next decade.
The company stated that some 650,000 ounces had been produced in the first three years at a cash cost of $884 per ounce and a capital payback had been achieved in the third year of operations.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the current quarter, the group stated that further staff appointments to the feasibility study and mine development team were expected to be made.
This follows the appointment of Mark Braghieri to the position of General Manager of Development.
The company furher stated that some 13.5m ordinary shares had been issued to Resolute Mining for tenement acquisition and the group had a cash position of $4.1m as of December 31st.
MF
-
'As AGMs go digital, firms must offer a new form of scrutiny for shareholders'Opinion Technology has rendered big AGM meet-ups obsolete, but the board still needs to be held to account, says Matthew Lynn
-
Nationwide cuts rates on 16 popular savings accountsNationwide Building Society says the move is due to the February Bank of England base rate reduction
