PERTH (miningweekly.com) - Gold developer Beadell Resources has started ore commissioning at its 7 MW semi-autogenous grinding mill, at its Tucano gold project in Brazil.
“This milestone, while acknowledging the late start, has been completed close to budget and with minimal dilution of shareholders’ equity,” said MD Peter Bowler.
“This is an outstanding achievement and we can now look forward to our team optimising the 3.5-million-ton-a-year carbon-in-leach gold plant over the coming weeks to move into a strong cash-flow positive position by year’s end.”
Bowler noted that 2013 would likely be a transformational year for the company, with some 200 000 oz of gold production planned, as Beadell became a large, long-life gold producer.
The miner said on Wednesday that practical completion of the processing-facility construction had been achieved with only minor ancillary construction tasks remaining to be finalised.
The crushing circuit, which was not required for the next six weeks, would be completed within three weeks, and would bring total construction costs in line with the A$100-million budget.
Bowler noted that transition from commissioning to full-scale operations would be the company’s focus over the next four weeks.
The first gold pour has been targeted for mid-December, after allowing for build-up of gold in circuit stocks.