OTCQX:BGMZF - Post by User
Post by
halcroon Mar 23, 2015 10:31am
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Post# 23550631
Narrow vein mining (San Gold under court ordered protection)
Narrow vein mining (San Gold under court ordered protection)San Gold Corp’s new chief Greg Gibson sees smaller mine as key to survival
Peter Koven | June 10, 2014 4:29 PM ET
"...Mr. Gibson, who joined the company as a director last year, said San should be producing about 50,000 to 60,000 profitable ounces a year. He compared this period to the 1970s, when small gold miners were making money at a much lower gold price. “We’re going back to the history books and taking lessons from them,” he said.
But re-orienting San Gold into a smaller producer is no simple task. The company installed a completely new management team, and is trying to downsize equipment and improve mill recoveries. The entire skill-set of the company had to change to focus on mining narrow veins. Mr. Gibson said there has been dramatic cost improvement since March.