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.
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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
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