Phoenix Gold Ltd has ignored the challenges of a tough gold market and will begin mining operations at Castle Hill and Red Dam in the second half of the year. The company's board last month approved a staged development strategy for a standalone 2 mtpa processing plant at Castle Hill as well as a 2 mtpa heap leach plant to treat stockpiled lower-grade material. A decision to develop the project followed the release of an independent DFS that found both deposits could be economically mined, based on a gold price of $1,310/oz.
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