THE BOURSE WHISPERER: Kentor Gold can now add ‘Australian Gold Producer’ to its resume following the pouring of the first gold doré bar from the company’s Murchison gold project in Western Australia.
The first gold doré bar weighed 1.13 kilograms (36.3 ounces) and has been estimated to be approximately 90 per cent gold.
“This is a big milestone for Kentor Gold as the Company joins the ranks of gold producers,” Kentor Gold managing director Simon Milroy said in the company’s announcement to the Australian Securities Exchange.
“The plant is settling down nicely with the mill continuing to achieve higher throughput than designed on a consistent basis.
“Initial gold production is sourced from the Burnakura plant’s gravity circuit.
“Gold loadings on the CIL circuit’s carbon are building steadily and it is anticipated the first carbon strip will take place later this week.”
Murchison gold project first gold pour. Source: Company announcement
Murchison is the first of Kentor Gold’s pipeline of three projects to enter production.
Gold mining commenced at the Murchison gold project at the Burnakura plant in mid‐2012, with the potential to add gold‐copper production from the neighbouring Gabanintha deposit.
At the Andash gold‐copper project in the Kyrgyz Republic, Kentor is targeting a commencement date sometime in 2013 for production at 70,000 ounces of gold and 7,400 tonnes copper of copper per annum for an initial six years, with potential for expansion.
The Jervois copper‐silver‐gold project in the Northern Territory has an anticipated 2014 start‐up following current studies being conducted into developing the copper‐silver resource with potential for gold, magnetite and other base metals.