PERTH (miningweekly.com) – ASX-listed Silver Mines is hoping to complete the feasibility study and lodge the environmental-impact statement on the Bowdens silver project, in New South Wales, by 2017.
Silver Mines said on Friday that initial pit optimisation and cost estimation work had been completed to prefeasibility levels, with initial work demonstrating robust project economics at current commodity prices.
Other works that have started, or which would shortly start, include updated mineral resource modelling, mine planning and scheduling, and water and tailings management.
Meanwhile, Silver Mines is due to make a A$1-million payment on Friday to fellow listed Kingsgate Consolidated as part of a A$5-million deed of variation to obtain the remaining 15% interest in the project.
The remaining A$4-million, plus an interest of 10% a year, is still payable to Kingsgate.
Should Silver Mines not pay the final balance by the end of December this year, the parties will form an unincorporated joint venture, with Kingsgate retaining 15% interest in the project.