TSXV:CGC - Post Discussion
Post by
stockwatcher7 on Apr 30, 2024 2:38pm
With gold holding 2300
I would think they have to be some talk of possibly reopening the mine if the resouce est has significantly increased....I would think that the cost to reopen would be a fraction of the cost to open a new mine...JMHO
The Tartan Lake process plant was initially designed and constructed as a 250t/d concentrator to process gold bearing ore with a head grade of 12g/t. The Mill entered commercial production in 1987, with throughput increased to 450t/d in 1988 to compensate for lower mined average head grades of 4 to 7 g/t (Hannon, P., et. al., 2012). During 1989, a re-grind mill was added to the circuit. Later that same year, the Mill ceased production due to low gold prices and a significant mechanical failure and was placed into care and maintenance.
18 PROJECT INFRASTRUCTURE This is a former mining operation and there is some former mining infrastructure including the former mill building, mine portal, flooded underground workings and tailings impoundment. They have not been used in decades and are in poor condition, but can be reconditioned for future use. The site includes the following: 450 tpd mill complex 2,100 metres of ramp to about 315 meters below surface plus 6 Levels of trackless mine development Developed stoping areas Ventilation raise to surface Site surface mobile equipment (stored indoors) Access road Hydroelectric power connection for 450 tpd mill and mine
| Gold Prices - Historical Annual Data |
| Year | Average Closing Price | Year High |
| 1989 | $381.27 | $417.15 |
| 1988 | $436.78 | $485.30 |
| 1987 | $446.84 | $502.75 |
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