PERTH (miningweekly.com) – Mining at newly listed Coolgardie Minerals’ Geko gold project, in Western Australia, has started, with first ore expected in early October.
The project hosts a mineral resource of 136 000 oz, grading 1.6 g/t gold.
Coolgardie said on Thursday that the company was in discussions with various regional groups in relation to mine gate ore sale and toll treatment agreements, with the first parcel of ore scheduled for deliver in October.
Coolgardie on Thursday also began share trading on the ASX following the issue of more than 21.2-million shares, priced at 20c each, to raise some A$4.25-million.
The company told shareholders that the successful listing on the Australian bourse would allow the company to gain improved access to capital markets and liquidity of shares, with the miner planning to expand its exploration and development strategic plan while striving to achieve technical and commercial success from its exploration programmes.
The company holds over 549 km2 of tenements in Western Australia surrounding the Bullabulling gold project. In addition to the Geko project, the company’s portfolio also includes five other prospects along the Bullabulling shear zone.