PanTerra’s Dominican gold production delayed
13th Jun 2012
JUNE 13 – PanTerra Gold advises that gold and silver doré production from its Las Lagunas project in the Dominican Republic -- previously scheduled for the middle of this month -- will be delayed while improvements are made to the Albion/CIL processing plant.
The company says operations at the plant, which began on May 23, have been temporarily suspended while improvements are made to the rate and density of feed to the plant. The bucket wheel dredge, which will feed the plant, has been delivered late and will be installed this week, with the plant expected to restart next week.
High grade refractory tailings from the Pueblo Viejo mine were being fed into the Albion/CIL process plant at around 30% of planned throughput, rising to full production of 70,000tpm by September 2012.
First doré (10% gold, 90% silver) production was expected by mid-June 2012, with first sales expected in July 2012, building over 4 months to an income of around $US9M a month after refining costs.
PanTerra expects the project to generate around $US300M of surplus cash for the company over the next 6.5 years.
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