THE BOURSE WHISPERER: Doray Minerals (ASX: DRM) has completed the first gold pour at the company’s 100 per cent-owned, high-grade Andy Well gold project, located in the northern Murchison region of Western Australia.
Doray said the achievement of the first gold pour was an important milestone for the company as it marks the official transition from it being a successful explorer and developer to become Australia’s newest high-grade gold producer.
The first gold pour was completed on 5 August 2013 and consisted of a 144 ounce (4.642kg) doré [pronounced Doray] bar produced from the gravity circuit.
Doray Minerals managing director Allan Kelly told The Roadhouse the first gold pour was the culmination of 3.5 years of successful exploration, development and construction work since the initial discovery of the Wilber Lode gold deposit in March 2010.
“We are extremely excited to be entering this new phase for the company as Australia’s newest high-grade gold producer,” Kelly said in the company’s announcement to the Australian Securities Exchange.
“Our work to date suggests that Andy Well will be a low cost operation and we expect it to fall within the lowest quartile of Australian gold projects in regards to cash operating costs per ounce.”
Kelly went on to thank all those who had been involved in the development of the Andy Well mine, paying special attention to the various contractors and consultants, which included MACA Civil, GR Engineering Services and GBF Underground Mining Company.
Doray has now recommenced surface exploration drilling at Andy Well, with the current program testing for depth and strike extensions to the high-grade Judy Lode and for potential additional high-grade quartz lodes.