- Write by:
-
Friday, November 5, 2021 - 14:06:09
-
585 Visit
-
Print
Mining News Pro - Otso Gold has restarted production and completed the first gold pour at its namesake mine operation located near the town of Raahe in central Finland.
The restart of production and the gold pour is the culmination of the completion of all the preparatory works and the hiring and training of over 140 full-time staff now on site with a further 128 contractors retained to provide permanent services to the mine, the company said in a news release.
Otso said it is currently processing approximately 4,000 tonnes of ore a day and blasting ore in mining areas four times a week, as it ramps up towards name plate capacity of 6,000 tonnes of ore a day.
The company expects to sell the first gold dore from the site over the next week.
The Otso gold mine is a fully permitted, open-cut operation with a 2 million tonne per annum gold processing facility.
The current mine plan indicates a target grade of 1.54 g/t, 6000 tonnes per day and a strip ratio of 3.26:1, as confirmed by a technical report released in August 2021.
A full economics and growth strategy will be included in the feasibility due Q3 2021. Target production is 90,000 ounces and an overall plant efficiency of 92%.
During the past month, the company has completed 6,000 metres of grade control reverse circulation drilling to underpin detailed mine planning.
Shares of Otso Gold gained 6.6% by 12:20 p.m. EDT Thursday, continuing its rally from the previous trading day.
The emerging gold miner has a market capitalization of C$72.3 million ($58m).
Short Link:
https://www.miningnews.ir/En/News/617001
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
No comments have been posted yet ...