Glencairn to convert Libertad to mill

摘要

Poor metallurgical recoveries at the Libertad gold mine in Nicaragua have convinced Glencairn Gold (GGG-T, GLE-X) that it is time to go big or go home. Glencairn will shut La Libertad down for two years while it redevelops the operation as a conventional mine and mill. The shutdown will start at the end of March. La Libertad, an open-pit mine with a heap-leach plant, produced less than 6,000 oz. gold in the third quarter of 2006, at a cash cost of 884 US dollars per oz., making a 2.6-million US dollars operating loss on revenue of 3.6 million US dollars. Recoveries from the heap-leach system were 41 percent to 45 percent, and pit stripping, none of which was capitalized, added to the operating cost.