GREY:VAALF - Post by User
Post by
hotinfoon Oct 10, 2010 7:49pm
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Post# 17550579
production begins ... or not !
production begins ... or not !in the PRESS RELEASE of August 2010 it states that Duas Mine will begin production in the third quarter of 2010 (article below). If you do the calculations that's July August September, which has passed.
Its ok that it passed but there is no update on why production hasn't started, the bottlenecks of the project, etc. - unless I missed out on some report... ??!!!
any reason why this mine is still dormant and if so, why no update..... when will it start ...
although Diamonds are a girl's best friend, they do not seem to be much interest to investors at the moment !
Robert
from press release ...
Duas Barras Mine
Mining operations commenced at Duas Barras alluvial diamond mine in Minas Gerais, Brazil in the second
quarter. A number of upgrades and expansions to the diamond recovery plant have been completed and plant
commissioning began in July. In addition to the preparation work for the diamond recovery, the Company also
implemented a tailings reprocessing project which involved the construction of two gold recovery sluices. Full
production is expected to resume before the end of the third quarter with estimated production in 2010 of
approximately 15,000 carats and in 2011 of approximately 40,000 carats, at a cost of US$85/carat. The
Company is preparing exploration programs to upgrade and expand its resources at Duas Barras and is in
discussions to acquire additional prospective properties.