KBL Mining Produces 60th Gold Bar of the Year
Gold miner KBL Mining Limited (ASX:KBL) today announced the production and shipment of its 60th gold bar, having produced its first gold bar in January this year from the state of the art Mineral Hill CIL circuit.
This is a significant milestone for the company, which had recently endured a few years of difficulty brought about by an aggressive attempted takeover, plummeting base metal prices, a delayed, over-budget plant and an extreme weather event that caused a crack in the haul road to its open pit mine taking away its profitable ore source.
KBL has worked hard to turn its fortunes at its Mineral Hill Project in NSW and to date has delivered approximately 4,000 ounces gold and 8,600 ounces silver as bullion.
The Mineral Hill CIL is capable of generating saleable bullion from the treatment of float tails, re-treatment of gold tails and treatment of oxide ores.
By broadening its production profile, KBL has managed to create operational flexibility and reduce overall risk.
“The enhanced treatment flexibility of the Mineral Hill plant will allow the company to maximise mill feed options while optimising processing for future ore sources,” said KBL managing director Greg Starr.
“This adaptability is crucial for continued growth and sustained production while also highlighting amenability to toll treatment opportunities”.
Installation of KBL’s 100% owned Carbon-in-leach (CIL) processing plant as well as significant improvements to the flotation circuit have seen its ore recovery rate increase by over 50% since the end of 2015.
The rate of increase is not guaranteed to continue at this pace, so seek professional financial advice for further information with regard to investing in this stock.
The plant is within 1km of the producing open cut mine and other deposits held by KBL and has received $30M worth of upgrades over the past few years.
The CIL plant is the only plant of its kind in the region.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.