Firefinch beats guidance
PERTH (miningweekly.com) – Junior gold miner Firefinch has exceeded its production targets for its first quarter as a producer.
The ASX-listed miner on Friday reported that 4 228 oz of gold was produced from its tailings operations during the three months to December, with a total of 7 683 oz produced since the Morila mine, in Mali, was acquired in November of last year.
Firefinch poured its first gold at Morila at the end of November.
“We are delighted with the gold production and overall progress at Morila. In just two months, the Firefinch team have safely achieved above forecast production. Significant progress has been made on mine plans, costs and timelines,” said executive chairperson Dr Alistair Cowden.
Two reverse circulation drill rigs are on site at Morila, undertaking infill drilling at the satellite resources to improve confidence in planned openpits.
Cowden noted that Firefinch was also actively progressing options to advance and realise value at its Goulamina lithium project, also in Mali.
A previously completed definitive feasibility study project estimated that it would require a capital investment of $194-million, and could produce an average of 436 000 t/y of spodumene concentrate over a mine life of 23 years.
“We are in a very fortunate position with our Goulamina lithium asset. Recent strong interest in lithium equities has improved the standing of the project, one of the world’s best undeveloped and uncommitted lithium assets,” said Cowden.
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