This makes for an interesting read in the Cobar Age Cobar Age
First silver bar close for Wonawinta 25 Apr, 2012 12:55 PM Cobar Consolidated Resources’ Wonawinta silver mine is expected to produce its first bar of silver within the next two months. CCR managing director Ian Lawrence is expecting to be holding the first bar of silver produced at the site within the coming weeks.
“We expect to produce our first bar of silver in four to six weeks,” said Mr Lawrence at a board meeting at the Wonawinta site last Wednesday.
“The construction activities are well advanced and we’re now looking at progressive commission of major process steps and plant material,” Mr Lawrence said. “We still have to perform the usual checks on the equipment and processing plant before we can begin adding the feed and start producing silver but commission is imminent.”
Mr Lawrence is very positive about the project; an optimism heightened by current strong silver prices.
“The main driver for us has been the relative strength of the silver price, which is currently at US$31.60 per ounce,” he told the Cobar Age.
“We’re very positive about the pricing of silver and it’s pricing for the future, so at the moment the medium term future of the project is looking really good.”
Mining manager Bill Sneath believes the long-term future of the project is equally promising.
“Vital mine life is five years and the exploration potential is very promising,” Mr Sneath said.
The mine site is progressing quickly, with a permanent mine camp close to completion after receiving development approval last month.
Any thoughts fellow silver fans.?
CCU Price at posting:
63.3¢ Sentiment: Buy Disclosure: Held
