INV Metals owned the Loma Giant challenge, about 30 km southwest of Cuenca, and accomplished a feasibility in Might 2020 that outlined common manufacturing of 203,000 gold-equivalent oz. a yr over a mine lifetime of 12 years at all-in sustaining prices of $627 per ounce. The mine would produce two concentrates, a gold-copper focus and a gold-pyrite focus.
In a hearth chat with Canadian Mining Journal Editor Alisha Hiyate on the Northern Miner’s World Mining Symposium this week, Candace MacGibbon, INV’s former CEO, talked in regards to the deal and famous that the intention “was by no means for us to promote the asset … we weren’t transferring it ahead simply to tick the containers to ensure that sale. We have been transferring ahead with constructing this.” Having mentioned that, she mentioned, there are all the time two choices: “Both you construct it otherwise you promote it,” and on this case at the moment, the corporate’s shareholders “overwhelmingly permitted it in order that was the plan of action that we took.”
Luckily for INV Metals and for its shareholders, Dundee was the best match to take Loma Larga additional, she mentioned. Dundee’s underground Chelopech copper-gold mine in Bulgaria has comparable geology, mining strategies and processing movement sheet as contemplated at Loma Larga, she defined, and Dundee additionally sells focus and has a twin stage flotation circuit at Chelopech.
(Proceed studying at The Northern Miner)