Name of the Project
Galaxy gold mine restart project.

Location
Galaxy gold is situated 6 km west of Barberton, in Mpumalanga, South Africa, and covers 5 863 ha. The mine comprises 21 east-west-trending gold bodies and four prospects at 600 m to 2 000 m in depth.

Project Owner/s
Galane Gold.

Project Description
The project involves the phased restart of the Galaxy gold mine, which includes refurbishing existing infrastructure and upgrading the processing facility to take production to 18 000 oz/y.

The project will be completed in phases.

The first phase of the restart involves the refurbishment of the existing processing plant and upgrading the plant from 15 000 t/m to 30 000 t/m, and increasing production to more than 25 000 oz/y of gold.

During the implementation of the first phase, Galane expects to complete a study on the second expansion phase to increase the capacity at the Galaxy processing plant to 60 000 t/m.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
A total of $2-million will be spent on the first phase of the project and it will be funded from in-house cash flows, primarily from Galane’s core operation, in Botswana.

Planned Start /End Date
The first phase is expected to start in April 2019.

Latest Developments
Galane Gold has produced its first concentrate at the Galaxy mine, as commissioning of the 15-million-tonne-a-year refurbished plant gets under way.

The plant is expected to reach full capacity from May onwards, with the company reporting that its capacity will be upgraded to 30 000 t/m by September.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Galane Gold chairperson Ravi Sood, email Ravi@GalaneGold.com.