THE BOURSE WHISPERER: Kin Mining (ASX: KIN) exercised an option to acquire a 2.5 megawatt ANI-Ruwolt ball mill, CIL agitators and screens through the payment of $1.27 million to Macca-Interquip.
Kin Mining said the purchase completes the acquisition of necessary key equipment required for the development of the company’s Leonora gold project (LGP) in Western Australia, which currently under development.
Kin explained the purchase of the essential drive train components came with a few extras, including a spare motor, gearbox and pinion along with engineering details which will serve to reduce installation costs.
The ANI mill was last used at the Mt McClure gold operation in WA and is said to be in good condition with the six intertank screens and agitators being unused and in new condition.
The installation of the 2.5MW ball mill forms part of the upgrade of the Lawlers plant at the LGP, which Kin expects to provide single-stage primary grinding of the Cardinia ores at an annualised throughput rate of 1.5 million tonnes per annum.
“Kin has been very fortunate to secure this long lead equipment at a very competitive price,” Kin Mining managing director Don Harper said in the company’s announcement to the Australian Securities Exchange.
“Our construction team can now commence refurbishment work to ensure it can be installed according to the LGP development schedule.”