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Troy pulls full-year guidance

25th November 2020

Creamer Media Senior Deputy Editor: Australasia

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PERTH (miningweekly.com) – Gold miner Troy Resources has withdrawn its production guidance for the full 2020, as its Karouni mine site, in Guyana, faced a number of issues.

The company in October reported 23 positive cases of Covid-19 infections at the mine, and while this had been effectively dealt with and the impact minimised, mining productivity was negatively impacted owing to the isolation of a number of employees, the miner said on Wednesday.

Expat arrivals following this were also not possible, as Guyana continued to experience high levels of Covid-19 infection rates. Troy noted that the nature of the country would also continue to make it challenging to operate the mine at capacity.

Furthermore, a store fire reported in September this year was now also having an impact on the availability of critical reagents and mill spare parts.

The miner said on Wednesday that the mill was still operational, however, on a reduced basis owing to the shortage. The insurance companies involved have accepted Troy’s claim.

In addition, Troy noted that while the Hicks deposit has generally reconciled well, since the start of mining in Hicks 4 Phase 3 in July and August this year, it has become apparent that this phase of the pit produced some 50% less than expected from the grade control model.

Hicks 4 Phase 3 is now complete, and Troy has re-entered Hicks 4 phases 1 and 2, which the company said would provide the majority of the gold production over the next nine months.

Edited by Creamer Media Reporter

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