PERTH (miningweekly.com) – The Teal gold project, in Western Australia, is tipped to produce its first ore in the current December quarter, owner Intermin Resources has reported.
The company told shareholders on Thursday that openpit mining at Teal had started and was progressing on schedule, with the Stage 1 operation expected to produce 15 567 oz of gold over its nine-month life.
“We are looking forward to completing the pre-strip and mining our first ore this quarter, and taking advantage of the very strong Australian dollar gold price,” MD Jon Price said.
At the current gold price, the mine is expected to generate some A$9.3-million in free cash flow during the 2017 financial year.