Burkina Faso-focused gold miner Avocet Mining says it may have to construct a new process plant at its Inata project, rather than just extend the existing plant, in order to provide more processing flexibility.
The firm is in the process of finding out the optimal processing methods, configuration and location of a new facility, following the doubling of Inata's mineral reserves in January which added a significant volume of fresh ore at depth to the enlarged ore body.
"The study therefore aims to configure a processing facility capable of maximising gold production from ore of different types and metallurgy," Avocet said.
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
The company is still undergoing a test work programme - results are expected in June - but anticipates entering construction in late 2012 and commissioning and first gold in late 2013, dependent on the study results.
BC
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
