Apex moves ahead with project sales
PERTH (miningweekly.com) – ASX-listed Apex Minerals has extended the due diligence period on its Wiluna gold mine by 60 days, reporting that the mine’s performance during April and May had improved substantially.
The Wiluna project was on track to produce some 4 000 oz of gold during May, compared with the 7 436 oz produced during the entire March quarter.
Apex said that the enhanced production was as a result of a focus on the reduction of mine dilution, access to higher-grade stopes, and an increase in production from the free-milling high-grade Golden Age Reef.
Metallurgical recoveries have also improved compared with the March quarter, as a result of the improved operating performance and higher grades.
Apex said that the improved production rates would likely continue for the next two to three months, generating positive cash flow of some A$1-million a month, at the current gold prices.
During this period, future production plans would also be revised, based on the lower gold price environment.
Meanwhile, Apex announced that it had also finalised the sale of its Youanmi gold project to Oz Youanmi Gold for A$5-million in cash. The consideration would be paid over several installments, with the first A$300 000 expected upon signing of the final sale and purchase agreement.
The final sales agreement was reached following a period of due diligence.
Apex told shareholders that given the recent market for gold, as well as the poor recognition of Youanmi’s value in Apex’s share price, the company remained of the view that the sales agreement represented a beneficial realization in value for shareholders.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
