THE BOURSE WHISPERER: KalNorth Gold Mines (ASX: KGM) has wasted little time in commencing earthworks to prepare for mining at the company’s 100 per cent-owned Lindsay’s gold mine having been issued a Mining Licence by the Western Australian Department of Mines and Petroleum.
The company described the official approval of its Mining Proposal and Project Management Plan as the final steps in its path to production.
KalNorth now has all the necessary tools for the extraction, transport and treatment of ore in place and equipment is already working on site.
Located approximately 50 kilometres north of Kalgoorlie, the Lindsay’s open pit mine is expected to be in operation for approximately 18 months and to deliver a total of 440,000 tonnes of ore for around 40,000 ounces of gold.
Location map showing roads and local processing plants. Source: Company announcement
Ore will be processed at the nearby Carosue Dam processing plant from February, while the company indicated future underground mining at Lindsay’s is also probable.
“Our comprehensive preparation resulted in rapid Mines Department approval,” KalNorth Gold Mines managing director John McKinstry said in the company’s announcement to the Australian Securities Exchange.
“We are already clearing and stripping the mine site.
“Our focus is on early ore production from near surface material, beginning with the Parrot Feathers deposit.
“This will give us cash flow within a few months.
“It is very pleasing to see the first of our four operations commence on time.
“It is the transformational moment we have been working towards.”