Discovery Metals continues Boseto copper ramp up; records highest monthly production
Thursday, March 14, 2013 by Proactive Investors
Discovery Metals (ASX:DML) is continuing the ramp up of production at its Boseto copper mine in Botswana with the highest monthly copper rate recorded last month.
It produced copper concentrate of 3,834 tonnes containing 1,529 tonnes of copper and 63,024 ounce of silver.
The concentrator throughput was about 91% of design rate for the 23 days operated last month.
Mining was also up at 2.4 million tonnes in February, which was slightly lower than planned.
To improve production, it made changes to drill and blast designs which improved blasting outcomes. It also used 18 metre cube capacity buckets on the 350 tonnes excavators, which improved loading cycles.
Mine production, concentrator feed and concentrate production are all expected to increase further towards design rates in March 2013.
The mill continues to demonstrate its overall capability. In the three months since 1 December 2012 the mill has processed 444 kilotonne over 54 operating days at an average rate of 8,222 tonnes per day, which is equal to 98% of design capacity.
Discovery’s prospecting licences in the Kalahari Copperbelt in north-west Botswana cover 11,872 square kilometres.
It had a cash position of US$48 million at the end of last quarter.
DML Price at posting:
63.5¢ Sentiment: Buy Disclosure: Held
