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  • Kingston Resources announces first gold from new pit and refurbished plant

    Mon Aug 26 2024

    Kingston Resources Limited (ASX:KSN) (‘Kingston’, or ‘The Company’) has successfully recommissioned the crushing and grinding circuits with the CIL (Carbon-in-leach) at the Mineral Hill processing plant.

    Gold and silver sales recommenced last week, an important milestone for the company as we ramp up sales post completion of the Tailings retreatment. With no hedging, the company can take full advantage of the rising A$ gold price with sales of gold at over A$3700/oz last week, a record for the company.

    Kingston Resources Managing Director & CEO, Andrew Corbett, comments:

    “Ore mined from our new open pit at Pearse North has been processed into gold through our newly refurbished processing plant and sold into a market experiencing the highest gold prices in recorded history. The entire team is excited with progress on ramping up Mineral Hill and the recommencement of gold and silver sales. The achievements to date have been outstanding and we’re very proud of our ability to execute this transition and deliver a high quality and high value product. We’re now returning to our regular cycle of gold and silver dore sales and are bedding in the regular operational tasks to maximise margin and cash flow from operations.

    Our site team have done an outstanding job in leading the plant refurbishment and open pit start up safely and delivering a step change in production at Mineral Hill. The refurbishment team are finalising the work program on the flotation plant which we expect to commission during October, when we commence sulphide ore production from the open pits.

    Open pit mining at Mineral Hill is initially focused on Pearse North, with oxide and transitional ore continuing into next quarter, at which time sulphide ore production will commence at Pearse North. Mining at Pearse South is also due to commence next quarter. Pearse South was mined historically and will therefore be producing high grade sulphide ore on commencement.

     

    Source: https://www.nsenergybusiness.com/

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