GREY:VAALF - Post by User
Post by
v_plourdeon Mar 28, 2011 8:39am
440 Views
Post# 18348691
NR
NRnot as good as expected but at least the
Duas Barras Mine began "producing"...
Duas Barras Mine
Pre-productionat the Duas Barras mine commenced in the third quarter of 2010,focusing on pre-stripping and plant commissioning. During 2010, 56,179bank cubic metres ("bcm") of new gravel was mined and blended with38,243 bcm of stockpiled gravel for a total run-of-mill feed of 78,475bcm of gravel and a gravel stockpile as at December 31, 2010 of 15,947bcm. A total of 8,804 carats ("cts") of diamonds were recovered during2010 at an average grade of 0.11 cts per bcm (8,161 cts in the 4thquarter at an average grade of 0.15 cts per bcm) versus an averageresource grade of 0.16 cts per bcm. In addition, 4,696 g or 150 troyounces of gold were produced during 2010, at an average grade of 0.05 gper bcm versus an average resource grade of 0.18 g per bcm. With thehigher than expected level of stripping and operating 
,and the lower than expected grades of diamond and gold experienced inthe pre-production period, the Company reviewed the Duas Barras projectfor impairment and recorded a $4.7 million impairment loss at December31, 2010. Management continues to monitor Duas Barras closely and willconsider and evaluate any necessary action required to improve thediamond and gold grades.