Integra ups by 20% Randalls gold output target

摘要

Australian explorer Integra Mining Limitednon Tuesday revised up the initial produc-ntion rate of its wholly owned Randalls goldnproject in Western Australia to more thann90,000 oz/year and said it remained onnschedule to produce first gold innSeptember. The revised rate is 20% high-ner than the 75,000 oz/year stated in thenproject feasibility study due to higher-ngrade production from the Salt Creeknopen pit mine being brought forward, thencompany said in a statement on Tuesday.n“At the revised production rate, currentngold prices and a A$574 [$506] pernounce cost of production, the project isnexpected to generate over A$75 million innoperating profit in the first year,” Integransaid. The company is targeting a produc-ntion rate of 100,000 oz/year by Junen2012 with the startup of high-grade opennpit production from the Maxwells open pitnand high-grade underground productionnfrom the Santa and Cock-eyed Bob goldndeposits, supplemented by feed from itsnmedium-grade stockpile. It is further aim-ning to decide by end-December 2012nwhether to expand its process plant ton140,000 oz/year and enable the startupnof Phase 2 open-pit mining and high-gradenunderground output. Randalls is only thensecond integrated mining and processingngold mine project based on a new goldndiscovery in Australia in the past 10nyears, according to Integra.