RE: Before you write off Malaga....... Peru's Ministry of Energy and Mining reported production for lead, molybdenum, silver, gold and copper all rose for the period from January 1, 2012, to May 20, 2012.
Meanwhile, production of moly, tungsten, copper, iron ore and lead all increased during the month of May.
Malaga's new 500 tpd tailing pond is now finished and ready for increased production!
APRIL 17/ 2012
Financed by an advance on sales from Malaga’s current customer, Global Tungsten & Powders Corp (“GTP”), construction will begin immediately with first delivery expected in Q3-2012. Assuming a 50% recovery rate, Malaga would produce an additional 31,500 metric tonne units (MTU’s) over the next few years from the current tailings pond, which is the equivalent value of $10M USD in revenues at current market prices.
"We are pleased to valorize the tungsten content from our current tailings pond, and look forward to using the cash flow generated from this project to invest in development of the Pasto Bueno mine,” said Pierre Monet, President and CEO of Malaga Inc. “We are also pleased to benefit from GTP’s on-going support and their position as a leading player in the tungsten sector.”
Long and Strong Malaga!
masspower