Kinbauri eyes production potential of El Valle, Carles

摘要

In a robust scoping study of its primary asset, Kinbauri Gold (KNB-V, KINBF-O) is looking to reinvigorate the past-producing El Valle and Carles mines in Spain's northwestern province of Asturias. Rio Narcea Gold Mines had operated the project as an open-pit mine until 2004, when it converted to underground mining. However, with the price of gold hovering at around 400 US dollars an oz. and cash costs at El Valle skyrocketing to 450 US dollars per oz. on the move underground, the company decided to shutter the operation in late 2005.