Beadell gets go-ahead at Duckhead
PERTH (miningweekly.com) – The Brazilian government has given ASX-listed gold junior Beadell approval to start mining at its 100 000 oz Duckhead deposit.
Beadell told shareholders on Monday that some 70% of the high-grade ore from Duckhead would be processed between August and December this year through the company’s Tucano gold plant.
Gold production would reach between 120 000 oz and 130 000 oz for the six months from July, while C1 cash costs were expected to be between $435/oz and $485/oz.
Meanwhile, iron-ore credits from the iron-ore concentrate plant would accrue an additional saving of between $30/oz and $50/oz, depending on production and the iron-ore price when payment of the stockpiled product starts over the coming months.
“We are all very excited to be on the cusp of mining what is expected to be one of the most profitable gold pits globally,” said Beadell MD Peter Bowler.
“This very strong production from Duckhead, with expected world-class costs, will also influence the first half of next year, ensuring Beadell continues to be a very profitable business into the future for the benefit of all stakeholders and shareholders.”
Bowler noted that extensive preparatory work had already been completed and that an operational agreement with major Anglo American had been signed, which would allow Beadell to mine and receive the full economic benefit from the gold.
Third-party consents required for this agreement were expected shortly.
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