TORONTO (miningweekly.com) – TSX-listed Guyana Goldfields (GGI) has started commissioning equipment at is Aurora project, saying the project remained on track for the first gold pour by midyear.
The project was currently about 85% built, with the focus now being on operational readiness training and commissioning.
"The commissioning of the mill circuit is a major milestone which we've been able to deliver on schedule and brings us one step closer to initial production.
“At this stage in the game, we are so close to production that it has eliminated a large portion of capital overspending risk. Our next focus is producing ounces at or above our target for 2015 gold production and joining the ranks of producers,” president and CEO Scott Caldwell noted.
Commissioning had started on the semi-autogenous grinding mill, power plant generators and water and air support systems.
The company was now in the process of completing the remaining piping, electrical and surface conveyor construction and expected to start up the gravity gold and saprolite production circuits midyear, which would allow it to produce gold sooner.
The commissioning and start-up of the hard-rock crushing circuit was expected to be complete by the third calendar quarter.
The mining fleet was already fully operational and all materials required for construction were on site. All surface and on-site construction and bulk earthworks had been completed, except for the river dike and runway expansion.
The company was currently operating at peak construction and manpower levels with more than 1 000 personnel on site, while the operational readiness team had been hired and was undergoing initial training.
Initial openpit mining at Rory's Knoll had defined the pit outline with excavation below river level causing no water in-flow.
The company expected to produce between 30 000 oz and 50 000 oz of gold this year and about 120 000 oz to 140 000 oz of gold in 2016.
As at March 31, GGI had about $44-million in capital expenditure left to spend on the $249-million project until production. The project was tracking on budget with $52-million available as an overrun facility, if needed.