RE: RNS OUT6 Apr 2016 08:26
Like these bits:
Noricum Gold Managing Director Greg Kuenzel said, "Mine planning is now at the top of our agenda following completion of this drill programme, which will provide us with an initial resource for Kvemo Bolnisi. We look forward to providing the results of this, and using them to rapidly deliver on our plans to commence first gold ore production in Q3 2016. The costs associated with the mining are expected to be low, with no capital expenditure requirements, as a result of the lack of stripping required and access to our local partner's infrastructure and processing equipment.
This initial programme will importantly act as proof of concept of the conversion of Soviet style resources to JORC, will confirm the position of Georgia as a modern and reputable mining jurisdiction with a well structured regulatory environment for mining approvals, and also, will see the establishment of an agreement with our local partner to mine and process the ore generated by the initial production target. All of these factors will contribute to the continued development of what we believe has the potential to be a world class asset."
Regards. Pdub.