Classic Minerals enters the league of gold producers with first concentrate at Kat Gap
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Following the recent commissioning of the Kat Gap processing plant, first concentrate has now been produced, certifying Classic Minerals as Australia’s newest gold producer.
This move represents a key turning point in the company’s journey – the smelting of the gold concentrate into a gold bar will generate revenue, enabling the financing of Stage 1 mining at the Kat Gap pit.
It will also facilitate targeted exploration efforts to unlock additional ounces at Kat Gap, further enhancing the mine’s value and potential.
“After the recent commissioning of the plant, the first parcel of ore was processed through the trommell, spinners, jigs and then the Butchart table; resulting in the production of gold concentrate,” the gold producer said in a statement, highlighting the collaboration efforts of Gekko Solutions.
Classic Minerals (ASX:CLZ) now has the operational capacity to seize the abundant opportunities from identified deposits in nearby areas and plans to look into bringing additional gold projects online.
These additional projects include the highly prospective Lady Ada and Magdalene gold projects, with a combined resource of over 311 thousand ounces of gold.
While CLZ’s positive trajectory extends beyond the Kat Gap gold mine, the company is committed to delivering exceptional value to its esteemed shareholders and stakeholders and remains focused on delivering strong results.
This article was developed in collaboration with Classic Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.