- Write by:
-
Tuesday, March 16, 2021 - 1:07:26 PM
-
548 Visit
-
Print
Mining News Pro - Condor Gold has entered into an agreement to buy a new semi-autogenous grinding mill (SAG) mill from First Majestic to bring the La India project, in Nicaragua, into production.
The purchase consideration is about $6.5-million, of which $3-million will be paid in shares of the company.
“I am delighted that First Majestic Silver has given a vote of confidence to Condor’s management team and endorsed a new mine at the fully permitted La India project by accepting part payment in Condor shares at 50p,” said CEO Mark Child.
Buying a mill that is superfluous to First Majestic’s needs significantly shortens the mill delivery time for La India, setting Condor on an accelerated path to production.
The mill, manufactured and supplied by Metso Outotec, comes with warrantees.
Metso Outotec’s technical support group has estimated throughput of 2 300 t/d, or 0.8-million tonnes a year, on a sustained basis, using the existing motor.
Increasing the motor size would increase throughput to 2 850 t/d.
Child said initial gold production would be between 80 000 oz/y and 100 000 oz/y.
The new SAG mill forms Stage 1 of production and the aim is to materially expand production capacity after two to three years.
Short Link:
https://www.miningnews.ir/En/News/611823
Canada’s corporate ethics watchdog on Tuesday said it was likely that human rights abuses had occurred at a mine in ...
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the ...
Awalé Resources (TSXV: ARIC) stock soared on Monday after the Newmont-backed gold explorer reported outstanding assay ...
French President Emmanuel Macron said on Monday the government is seeking to designate new regulated gold mining zones ...
Newmont Corp. has kicked off the sale of its Akyem gold mine in Ghana, which is attracting interest from potential ...
Vista Gold has released an updated feasibility study for its Mt Todd gold project in Northern Territory, Australia, to ...
Gold production in Burkina Faso declined last year as deteriorating security conditions in the West African nation ...
Gold snapped nine days of record-breaking gains as underlying US inflation topped forecasts for a second month in ...
A Senegalese opposition coalition backed by popular firebrand Ousmane Sonko launched its presidential campaign platform ...
No comments have been posted yet ...