Info received from the company in September Refer to the below information which I gatehred from the company.
WIth respect to one's prior post I would not expect any capital raising in light of the $10mil
debt facility.
1. When do you expect alluvial production to increase to 6-8000 ounces?
October, 2013:
Alluvial/elluvial production = 80 – 100 oz Au/month
Hard-rock production = 0 oz Au/month
Total = 80 – 100 oz Au/month
November – December, 2013:
Alluvial/elluvial production = 280 – 350 oz Au/month
Hard-rock production = 0 oz Au/month
Total = 280 – 350 oz Au/month
January 2014 – December, 2014:
Alluvial/elluvial production = 500 – +600 oz Au/mo
Hard-rock production = 0 oz Au/month
Total = 500 – 600 oz Au/month
January 2015 – onward ave:
Alluvial/elluvial production = 500 – +600 oz Au/mo
Hard-rock production = 3,150 oz Au/month
Total = 3,650 – 3,750 oz Au/month
2. Also, is this alluvial production in addition to the new mine production scheduled late next year and when do you expect the alluvial production to be exhausted?
Alluvial production is in ADDITION to hard-rock production (see above). We currently have alluvial inventory for about 13 years of production without additional discoveries
3. The expected announcement date of the BFS . We now expect the feasibility to be complete in late October/early November with the additional metallurgical testing associated with the intensive gravity recovery circuit.
When do you expect to obtain a finance arrangements for the Million Mountain Zone 1 hard rock mine We currently have soft commitments from several major institutions. We should be able to close financing for construction within a few weeks following release of the DFS.