(via NewsDirect)
The key highlight is the arrival of a new 1,000-tonne-per-day (tpd) capacity ball mill on-site, which has the potential to significantly boost gold production. The expansion of the mill is expected to increase the processing capacity from 1,000 tpd to 2,000 tpd, leading to a projected increase in ore throughput from 75% to 100% on an average annual basis.
This near-doubling of milling capacity positions Buckreef Gold to exceed its fiscal 2023 annual guidance of 20,000-25,000 ounces of gold production.
Mullowney emphasized that the planned expansion is fully funded, with an estimated capital expenditure of approximately
The company is currently in advanced discussions with Tanzanian banks to secure both operating and term loan facilities.
This expansion project represents a significant step forward for
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