Burkina Faso – Irrigation of the heap leach pad and commissioning of the absorption, desorption and refining plant is currently underway, with the mine on track for first gold pour around the end of March 2016.
Mining is ahead of schedule with 600 000 t stockpiled at above average reserve grade. The Karma mine has been designed to deliver 97 000 ozpa of gold for 8.5 years.
The operations team is fully staffed and actively engaged in the ramp up to commercial production. The crushing, agglomerating and stacking circuit is now operating on a 24/7 schedule and has been treating ore at a rate of 600 tph.
“With gold production only weeks away and almost five months of mining under our belts we are pleased to see mining costs tracking in-line with the feasibility study.
“We have purchased all key supplies and reagents and are seeing the benefits of lower prices for fuel, cement and cyanide at below feasibility cost estimates,” says True Gold president and CEO Christian Milau.
Earlier in March, Endeavour Mining, the TSX-listed West African gold miner, announced that it has entered into a definitive arrangement agreement to acquire all the shares in the junior miner as part of its ‘buy-and-build’ strategy.
With the expected closing of this acquisition in April 2016, Endeavour Mining intends to see Karma complete its production ramp-up and then commence construction of its Houndé project.
Following the acquisition, Endeavour Mining will have five producing mines; the Houndé project, a long-life and low-cost development project that is construction ready; and an attractive pipeline of development and exploration properties in West Africa.
Speaking on the acquisition, Endeavour Mining CEO Neil Woodyer said: “The production profile and low cost of True Gold’s Karma mine is a very attractive fit with our West African operating portfolio. Karma is nearing production, and Endeavour Mining has both the financial strength and an experienced operations team to ensure Karma’s value is maximised during this important stage.”