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Excelsior chooses development path for Kalgoorlie North

26th September 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior Excelsior Gold has opted to pursue a standalone processing facility at its Kalgoorlie North gold project, following a strategic and corporate option review.

Earlier this year, Excelsior appointed KPGM as a corporate adviser to assist with assessing development options for Kalgoorlie North, including the development of a standalone operation, the relocation of existing plants, and a potential toll treatment operation.

Excelsior said on Thursday that as the assessment of the various options progressed, it became apparent that the sale of the project was such that the long-term interest of shareholders would be best served through a standalone processing plant, which would allow the company to extract maximum value from the project while still retaining exposure to long-term exploration potential.

The gold junior was now planning to complete a prefeasibility study (PFS) on a one-million-tonne-a-year processing facility adjacent to a proposed openpit operation at the Zoroastrian deposit and a short distance away from the larger Excelsior openpit.

The PFS was scheduled for completion in early 2014.

Edited by Creamer Media Reporter

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