Las Lagunas back in full swing - PanTerra
PERTH (miningweekly.com) – Gold miner PanTerra Gold expected to resume full production at its processing plant at the Las Lagunas gold/silver project, in the Dominican Republic, during this week.
Production from Las Lagunas was halved in November last year, after the operation experienced mechanical issues.
PanTerra has since been working to clear up the issues and, in January, again reached design capacity at the plant.
CEO Brian Johnson said on Monday that with the company’s operations and cash flow steadily improving, the primary focus would be on securing additional feed sources for the Las Lagunas plant from either within the Dominican Republic, or from outside the country, in order to extend the six-year life of the project.
“Subject to grade and metallurgical characteristics, concentrate produced from mining of refractory ores could be transported from significantly distant locations and remain a commercial proposition for gold and silver extraction, using the existing plant and infrastructure, particularly while projected average operating costs remain in the $350/oz to $400/oz range,” said Johnson.
He noted that the net present value (NPV) of the Las Lagunas project was currently around $173-million, at an average gold price of $1 400/oz, after taking into account group overheads, financing costs, royalties, government profit share and hedging commitments.
Johnson said that the NPV would be significantly higher if the project could source additional feed.
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