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Tomingley delivers for Alkane in June Q

18th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Diversified junior Alkane Resources produced 16 348 oz of gold during the three months to June 30 from its Tomingley gold mine, in New South Wales.

The mine was officially opened in March this year, with design capacity achieved in late May. The plant was currently operating at one-million-tonne-a-year capacity.

Alkane said on Friday that while gold poured for the quarter was near budget, the financial year total of 20 711 oz was below the production target of between 22 000 oz and 27 000 oz, owing to initial issues with the cyanide destruct circuit limiting ore throughput

For the 2015 financial year, Alkane was predicting gold production of between 60 000 oz and 70 000 oz.

Alkane was currently also developing its A$1-billion Dubbo zirconia project, which is expected to produce about one-million tonnes a year of ore, delivering 3 000 t of ferroniobium under a joint venture agreement with Treibacher Industries.

The project will have an initial mine life of some 20 years and, at current prices, it is expected to generate A$90-million a year in revenue.

Edited by Creamer Media Reporter

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