The mine’s development is valued at approximately $2.2 million, with 71,700 ounces of gold to be produced over an initial two-year mine life.
Mincor’s Managing Director Peter Muccilli said: “With start-up gold reserves of 77,000 ounces, the Widgiemooltha Gold Project is expected to generate cash-flow for the company for the next two and a half years, with potential to extend mine life through further exploration success. The engagement of highly respected project managers, Goldfields Technical Services, to oversee day to day operations at Widgiemooltha allows Mincor’s technical team to focus on delivering its nickel sulphide exploration strategy at Kambalda.”
Mobilisation and pre-production activities are already underway at the mine, with mining activities set to commence this month.
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