Friday, 28th September 2007 (2071 views)

The first gold pour at Allied Gold's Simbiri project has been slightly delayed to November, the National, a Papua New Guinea (PNG) newspaper, has reported.

Commissioning of the mine will begin in October, Allied executive chairman Mark Caruso told the newspaper, concluding a competitive bidding process that presented an open-pit mining contract to Mine Site Construction Services.

Reportedly, two of the four drilling rigs ordered in June are already at the site, located in eastern PNG, where further exploratory drilling is to be carried out in the coming months.

It is estimated that the Simbiri mine will yield about 84,000 ounces of gold per year for a planned mine life extending to eight years.

Allied first acquired interest in the Simbiri gold mining project in 2004 and fully satisfied the acquisition requirements in October 2005.

The Perth-based company, which is listed on both the London Stock Exchange and the Australian Stock Exchange, has gold exploration and development projects off of three islands in PNG.

 

« Back to Gold News stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.