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Kentor suspends Murchison operations

19th April 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – The administrators for ASX-listed Kentor Gold’s subsidiary, Kentor Minerals, have suspended the opencut and underground operations at the Murchison gold project, in Western Australia.

The miner said on Friday that processing operations would continue using existing ore stockpiles.

Kentor Minerals went into administration at the end of March this year after it failed to raise a financing facility to fund the Murchison operations and exploration work.

At the time, the miner said that it was evaluating other financing opportunities for the Murchison mine.

During the December quarter last year, the Murchison mine failed to deliver on its production guidance, with cash costs also exceeding expectations, owing to the slower-than-expected mining rates and the need to feed low-grade material from stockpiles.

The company said on Friday that its shares would remain suspended until further notice.

Edited by Creamer Media Reporter

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