Thursday, 10 January 2013 14:19
Perth-based junior KalNorth Gold Mines has commenced open pit mining operations at its Lindsay’s field in Western Australia, officially marking the company’s transition from gold explorer to gold miner.
The company was issued a mining licence this week by the Western Australia Government, giving it the green light to begin operations.
KalNorth chairman Laurence Freedman said that the commencement of work at Lindsay’s was a watershed moment in the company’s history and an important step in becoming a highly profitable mid-tier producer.
“About two years ago we set our sights upon becoming a gold producer by January 2013 and I am pleased to report that we have achieved this goal, precisely on schedule and within budget,” Mr Freedman said.
“This is an exciting turning point for KalNorth – with gold now being extracted, we have become a company that generates profits.
“The cash flow from Lindsay’s will be used to expand our exploration activities and to ultimately bring our three other KalNorth gold field projects into production.
“We are well advanced in that process.”
Production will take place at the Parrot Feathers deposit in the Lindsay’s gold field, north-east of Kalgoorlie.
The open pit mine is expected to be in operation for about 18 months, with a total of 440,000 tonnes of ore being extracted during that time, including 40,000 ounces of contained gold.
KalNorth Gold Mines
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