Dual-listed gold miner Troy Resources will start wet commissioning of its Karouni plant, in Guyana, by September this year, with first gold production to follow soon after. MD and CEO Martin Purvis told delegates attending the second day of the Diggers & Dealers conference that mining at the Hicks deposit at Karouni had already started. “Troy is only weeks away from the exciting event of opening up its first new mine in five years and that mine will be a flagship for the company. It’s the biggest mine that we have ever built,” he said. The $70-million opencut operation, which would have a mine life of three years, would produce on average 101 000 oz/y of gold, barring the first year in which 104 400 oz is expected. The project would make use of a conventional carbon-in-leach plant augmented with gravity gold recovery treating a nominal one-million tonnes a year. Karouni was expected to have a life-of-mine average C1 cash cost of $480/oz, excluding royalties, and an all-in cash-cost of $602/oz. Purvis noted that drilling work around Karouni was also expected to start in September, as Troy moved to prove up previously identified targets into resource and reserve categories to extend the mine life at Karouni. “We have substantial targets that we have built up over the last year and we are sure that they will extend the life of the mine.” With the Karouni mine now well on its way to production, Purvis said Troy would now look to identify other development opportunities.
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