got a bit of free publicity today on * site
That will have investors sniffing their noses around looking for the company that could break the mould and defy what has so far been a pitiful -22.6% year to date return for the All Ordinaries Gold index.The best bets are often early stage miners who drum up excitement with the growth story that comes with any new mining operation.Those stocks, like Capricorn and WAF last year, often catch a wave from investors as their mines ramp up and before they have a chance to disappoint you.One of the miners in this mode is $250 million capped Calidus Resources (ASX:CAI), which is down 4.62% YTD but caught a 6.9% bump today after announcing the start of steady state production at its Warrawoona mine in the Pilbara.It expects to hit nameplate capacity of 2.4Mtpa in July at its processing plant, which has been tested at up to 2.8Mtpa.Since first pouring gold in May, Calidus has delivered 8916oz of gold for $22 million of sales, helping make $3m of repayments on its debt to Macquarie Bank.Calidus had $19.8m in the bank as of June 30.“We are rapidly closing in on steady state operations at Warrawoona which is a fantastic achievement after pouring first gold from the commissioned CIL circuit only 6 weeks ago,” Calidus MD Dave Reeves said.“This is a credit to the Calidus operations team and we look forward to the project become a strong cash flow generator for the Company in the coming years.”The $120 million Warrawoona mine is expected to produce 90,000ozpa over its first 7 years, with a peak production rate of 105,000oz in its fifth year of operations.
- Forums
- ASX - By Stock
- Ann: Warrawoona Transitioning to Steady State Production
got a bit of free publicity today on * site That will...
-
- There are more pages in this discussion • 31 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CAI (ASX) to my watchlist
(20min delay)
|
|||||
Last
11.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $93.67M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
CAI (ASX) Chart |
Day chart unavailable
The Watchlist
BM8
BATTERY AGE MINERALS LTD
Nigel Broomham, CEO
Nigel Broomham
CEO
Previous Video
Next Video
SPONSORED BY The Market Online