Tiger Resources
ASX-listed Tiger Resources has achieved production of 23 119 t of copper cathode at Kipoi during 2016.

The production level achieve by Tiger Resources is within the revised 2016 guidance range of 23 000 to 23 600 t.

During the year, Tiger Resources also completed the reinforcement of the intermediate leach solution pond, allowing production at Kipoi to be resumed at nameplate operating levels. The company will embark on the construction of an additional pond after the wet season.

Moreover, the company delivered the debottlenecking capital works programme to expand the Kipoi plant’s nameplate production capacity to 32 500 tpa. The coffer dam, a smaller dam contained within the larger dam that comprises the new tailings storage facility, has also been commissioned.

This programme provides sufficient capacity to allow full production through the new tank leach facility for the duration of the wet season. Laying of the HDPE liner to the larger tailings three dam surface has been deferred until the dry season.

“Commissioning of the tank leach facility is underway. Sufficient slimes material, being the copper bearing residues contained in the existing tailings dam 1, have been recovered to support tank leach production through the remainder of the wet season,” says Tiger Resources.

Tiger  Resources has received approval for and completed the drawdown of the remaining funds available under the $162.5 million facility provided by the lender group of Taurus Mining Finance Fund, Resource Capital Fund VI and the International Finance Corporation.

As permitted under the additional short-term commitment from the lender group, interest of $3.5 million was capitalised on 31 October 2016. The remaining short-term commitment provides Tiger Resources with $5.1 million of undrawn facility and the ability to capitalise the next three interest installments to 31 July 2017.

Tiger Resources added that it continues to work with the DRC government and is hopeful that the timing of future VAT refunds can be resolved.