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Alcyone's Texas expansion on track

13th August 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed Alcyone Resources has started site work on the installation of the new crushing plant at its Texas silver mine, in Queensland, which would bring the plant’s capacity up to 1.1-million ounces a year.

Alcyone said on Tuesday that it had successfully crushed some 20 000 t of ore over the last week, and silver production was expected to start shortly.

The Texas project includes the Twin Hills and Mt Gunyan mines, and started silver production in July 2011.

Alcyone recently signed a three-year offtake agreement over the project, valued at A$10-million. The company also received A$7.4-million under a rights issue and shortfall.

Edited by Creamer Media Reporter

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