From Liongold's bidders statement for Castlemaine Goldfields (ASX: CGT):
LionGold’s technical staff have worked with Signature and evaluated historic reports on technical investigations. LionGold believes that the future of the Konongo Gold Project is directly related to an increase in scale of operations. To achieve this LionGold will support Signature to secure financing in order to complete the requisite work and techno-economic studies and generate optimised feasibility studies of sufficient veracity in order to secure funding for these expansions.
The key projects for review will be:
(A) high tonnage – low grade oxide ore project to be processed in an expanded or new CIL facility;
(B) high tonnage moderate grade sulphide operations (2.5 - 4.5g/t) – including concentration and oxidation for refractory ores sourced from open pits; and
(C) moderate to high grade underground operations (6-15g/t) - including concentration and oxidation of concentrates from refractory ores sourced from mechanised underground mining.
SBL Price at posting:
0.8¢ Sentiment: ST Buy Disclosure: Held
