The company plans to ramp up production in 2023. Pic: via Getty Images.
Tombola kicks off gold processing, plans first gold pour next week
Mining
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Tombola Gold has started gold processing following the successful refurbishment of the Great Australian Mine (GAM) Plant.
It’s a significant milestone for the company, with the first gold pour scheduled to be completed by the 19th of December, and gold pours expected to occur on a weekly basis after that.
A total of 28,000 tonnes of material now on the Run of Mine (ROM) pad at GAM is awaiting processing with haulage of material to the GAM ongoing to provide continuity production.
Significant Aussie gold producer
“The 2022 year has been a pivotal year for Tombola, as we have continued to execute on our vision of becoming a significant Australian gold producer,” Tombola Gold (ASX:TBA) MD Byron Miles said.
“Next year we will continue to focus on expanding production by bringing the Lorena CIL plant and Vats online, with the aim of achieving the lowest possible All in Sustaining Cost.
“I would like to thank shareholders for their ongoing support to date, and we look forward to an exciting 2023 for the company.”
Ramping up production in 2023
Tombola plans to increase production in 2023 ,with both the Vats and Lorena CIL plant becoming operational.
At the Mt Freda Gold Complex, Tombola is currently continuing to construct a 40,000t reusable VAT which is due for completion by Q2 2023 and is expected to significantly reduce the All In Sustaining Cost once operational.
Civil construction of the VAT’s is complete with environmental permits in place.
The company also entered an agreement to acquire the Lorena Processing Facility in July this year – including fully permitted mining and exploration leases, the existing open cut gold and copper mine and a 250,000 – 300,000 tonne per annum processing plant.
This article was developed in collaboration with Tombola Gold Limited, 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.
