Manuka Resources is readying its Mt Boppy gold mine in New South Wales for restart, targeting first gold production in the fourth quarter of 2024.
The company is currently in the midst of constructing a processing and gold doré production facility at the site in an effort to move away from the previous model of processing gold at Manuka’s Wonawinta silver mine 150km south of Mt Boppy.
The relocation of the ball mill from Wonawinta to Mt Boppy has now commenced.
“The execution of our plan to restart gold operations at Mt Boppy is well underway,” Manuka executive chairman Dennis Karp said.
“The opportunistic purchasing of second-hand processing equipment is consistent will our low-capex strategy that includes the leveraging and repurposing of exisiting assets including the Wonawinta 400 kilowatt ball mill, diesel generators, 48-man accomodation camp and mobile screening plant.
“We look forward to providing regular updates to the market as we progress towards first gold at Mt Boppy.”
Manuka is forecasting Mt Boppy to be a low capex ($11.6 million), high-margin operation with earnings before interest, tax, depreciation and amortisation estimated at $19 million per annum.
The increase of milling capacities and the acceleration of gold production are currently being investigated by Manuka.
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