A1 Minerals went into full gold production at the start of May this year after a protracted commissioning phase. A1 Minerals is located in the eastern goldfields near Barricks Granny Smith and AngloAshanti's Sunrise Dam multi megaounce mines.
According to the company A1 Minerals is processing ore grading at an average of 4g/t from open cut operations through a fully owned (no debt) CIP mill at a rate of 300kt/annum yielding an estimated 30,000 ounces of gold per annum.
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01066016
DEBT less than 2 million (finance for car fleet and electricity production)
OWN OWN MILL
The mill has been constructed to permit an upgrade from the 300kt/annum to 750kt/annum to yield an expected 75,000 ounces of gold per annum
GOLD HAS NOW RISEN TO ABOVE $1500 AUD.
The company is also targeting an operation cash cost of $600/ ounce.
Recent presentation to AMEC conference is as follows
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01069418
Have fun with your research.
GC
Add to My Watchlist
What is My Watchlist?
