Galane stock rockets on Galaxy restart decision
TORONTO (miningweekly.com) – The board of Southern Africa-focused gold producer Galane Gold has made a development decision for the first-phase restart of production at the Galaxy gold mine, in South Africa, up to a target of 60 000 oz/y, the company advised on Monday.
The TSX-V-listed miner, which operates the Mupane mine, in Botswana, said it would spend $2-million through a capital expenditure programme to restart production. The company expected that the first phase would take six months to complete and that it would be funded from internal cash flow.
Starting this month, the company would start refurbishing existing infrastructure and upgrading the processing facility to take production to 18 000 oz/y.
In particular, the company would focus on refurbishing the existing 15 000 t/m processing plant, which would include the installation of a new crusher, remedial work to the float section, a new gravity separation section and the re-establishment of the elution plant.
It would also include the construction of a new 25 000 t/m carbon in leach tailings retreatment plant within the current footprint of the existing processing plant; restarting underground mining at Woodbine, Agnes and Ivy on the seventeen-level using conventional shrink-stope mining; and starting tailings recovery by sluicing at the Woodbine and Hostel dumps.
Galane expected to produce gold at Galaxy at the end of the fourth quarter.
Toronto-based Galane’s TSX-V-listed stock on Monday jumped more than 32% to C$0.19 apiece after the news release.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
