THROUGHPUT of the new mill at Majestic Gold's flagship Songjiagou project in Shandong Province is being ramped up towards full daily capacity of 6000 tonnes. The company began commissioning of the mill at a daily rate of 3000 tonnes on June 30 with ore that had been stockpiled at the site. This was done in order to streamline the commissioning process. In addition, Majestic has completed the tailings dam with all tailings lines and water return systems in place and now in use. Earlier this year Majestic was buoyed by a positive preliminary assessment delivered by Wardrop, a Tetra Tech Company. This determined that the project had a net present value of US$525 million using a 10% discount rate with an internal rate of return of 78.6% and payback within 1.4 years. It estimated total gold production of 2.324 million ounces for the life-of-mine, a strip rate of 1.87:1 and a mine life of 22 years.
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