KBL Mining Produces 60th Gold Bar of the Year

Published at Aug 15, 2016, in Mining

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.

tags

GOLD

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). 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.

Publishers Notice

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.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X