did anyone actually read this17 Dec 2008 11:54
20 November 2008
Cmbridge Mineral Resources plc
Gold Production Commences at Quintana, Colombia
Cambridge Mineral Resources plc has
Commenced production at its Quintana Gold Mine in Colombia on 9th November with first gold being poured on 19th November.
It is anticipated that the Quintana Mine will produce circa 15,200 ozs of gold and 6,000 ozs of silver per annum over a minimum five year mine life.
Completed the 5.1km access road to the mine site, including deepening and equipping the mine, installing a modern tailings management facility, a 60 bed mine camp and the processing Plant utilising both gravity, flotation and leach processes.
CMR has sales contract with CIIGSA, a long-established Colombian gold refiner, with sales prices based on the London p.m. gold price fix on the day of delivery to the refinery. Gold dore sales will commence shortly.
CMR MD Colin Andrew said, "Bringing Quintana on line is a transformational step for CMR as we move from being an exploration company into a mining production company, and we are pleased to have achieved this within the time period scheduled by CMR earlier this year.
We initially targeted production at rate of 50 tonnes of ore per day, however with circa 4,000 tonnes contained in the pre-production stockpile, I am delighted that we have commenced mill throughput at a rate of 75 tonnes per day, which we expect to further increase in the near future.