THE BOURSE WHISPERER: Doray Minerals (ASX: DRM) announced the first gold pour and commencement of concentrate production at the company’s Deflector gold project in Western Australia.
The announcement comes approximately 14 months after Doray completed its takeover of Mutiny Gold in March 2015.
The company said construction of a new, purpose-built 480,000 tonnes per annum processing plant recently achieved Practical Completion, on schedule.
Mineralised material is now being fed through the plant, resulting in production of the first gold bars from the gravity circuit.
Commissioning of milling, gravity and flotation circuits is ongoing with production of concentrate also commenced.
Ramp-up to commercial production is anticipated over the next two months.
Doray said it expects the first shipment of gold-copper-silver concentrate in late June 2016.
Open pit mining is progressing and the company’s underground contractor is on its way to prepare to establish the portal and commence underground development, scheduled for June 2016.
“In the 14 months or so since we completed the takeover of Mutiny Gold, we have funded, permitted and built a new 480,000 tonne per annum processing plant, a new 150-person accommodation village and all other associated mine infrastructure, and commenced open pit mining at Deflector,” Doray Minerals managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.
“I’m now very pleased to be able to announce the commencement of gold production at Deflector, the second high-grade gold mine we have funded, permitted, built and commissioned in just under four years.”