General 2015-05-10Silver Lake acquired the Lakewood Gold Processing Facility located 5 km southeast of Kalgoorlie and 45 km from the Daisy Milano mine in December 2007. Modifications to the existing circuit to optimise processing of the high grade ore from Daisy Milano were completed in April 2008 including a major refurbishment programme. Further refurbishment was completed in February 2010 upgrading the facility from 300,000 tpa to 600,000 tpa for a low capital cost of $4.0 million. In December 2011 stage one of a two stage expansion of Lakewood GPF was completed. This upgrade increased the capacity of the processing facility to 700,000 tpa of hard rock and 900,000 tpa of soft rock and was completed for the budgeted amount of $8 million.
Nearby Location News
Barrickâs $1bn Super Pit stake said to draw Kinross, Zijin 2016-10-07Barrick Gold’s stake in the Kalgoorlie Super Pit mine has drawn interest from Kinross Gold and Zijin Mining Group in a sale that could fetch as much as $1-billion, people with knowledge of the matter said. Australian producers Newcrest Mining, Northern Star Resources and Evolution Mining are also reviewing data on the mine ahead of possible indicative bids, which are due by the end of October, according to the people.
MacPhersons starts trial mining at Boorara 2016-09-07Trial mining at the Boorara gold mine, in Western Australia, has started, with owner MacPhersons Resources announcing plans to develop a 20 m openpit Some 30 000 t of ore would be hauled to a nearby mill, and processing was expected to take between 10 and 12 days.
MacPhersons Resources Ltd kick-starts trial mining at Boorara Gold Project 2016-09-07
MacPhersons Resources Ltd (ASX:MRP) has commenced trial open pit operations at the Boorara Gold Project in the Eastern Goldfields of Western Australia, as part of a feasibility study.
The aim of the Boorara trial mining operation is to enable accurate resource, mining and milling reconciliations to be undertaken on the deposit.
The Boorara open pit contains total resources of 3 -3.5 million tonnes grading 1.01 g/t gold, estimated to produce 86,000-91,000 ounces of gold over three years from a standalone heap leach.
MacPhersons is currently planning to mine 30,000 tonnes by developing a trial pit to a depth of 20 metres and about 100 metres long at the Southern Stockwork deposit.
The pit is expected to be completed by the end of September.
The ore will be hauled 60 kilometres to the FMR Pty Ltd mill at Coolgardie. The processing of the ore will take about 10-12 days.
MacPhersons is anticipating to produce 1700-1800 ounces of gold from the initial shipment of ore.
Sale of Coolgardie gold assets for $10 million
MacPhersons was in the news last week, when it announced an agreement for the sale of its Coolgardie gold assets to Primary Gold Ltd (ASX:PGO) for $10 million.
The transaction will include $5 million in cash, to be paid over a 12-month period and $5 million comprised of 40 million Primary shares at an issue price of $0.125 per share.
The sale is part of MacPhersons’ plan to focus on its core assets at the Boorara gold and Nimbus silver projects.
The new funds will come in handy as the company is commencing a reverse circulation drill program shortly to test for mineralised extensions below Boorara.
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Barrick presses on with asset sales in the face of goldâs rally 2016-07-28Barrick Gold plans to forge ahead with efforts to divest peripheral assets – starting with its stake in the Kalgoorlie Super Pit in Australia – even as surging gold prices spur the highest profit in three years. In its second-quarter earnings statement Wednesday, the world’s largest gold producer said it made $968-million in debt repayments this year, almost half its target, and will continue pursuing non-core asset sales. Earnings excluding one-time items matched analysts’ estimates, while net income was the highest since the first quarter of 2013.
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Empire plans to process Pennyâs Find gold at third-party Kalgoorlie mill 2016-06-07Gold junior Empire Resources has signed a memorandum of understanding (MoU) with Golden Mile Milling for the toll treatment of ore from its Penny’s Find gold deposit, in Western Australia. The ore would be processed at Golden Mile’s Lakewood mill, located on the southern outskirts of Kalgoorlie Boulder and about 63 km by road from Penny’s Find, Empire reported on Tuesday.
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