Eyes on the prize folks6 Dec 2024 12:07
So much going on, real progress taking place, Q1 2025 should be huge for NTVO
Pleased to announce it has signed a binding term sheet to acquire the Morrocota Gold Mine ("Morrocota")
Boku has entered into a sales agreement with a local gold ore processing plant in the Arequipa region...vein material is expected to be collected by the processing plant in December 2024, at the same time as the first production material is transported
The underground mine continues to be prepared, and simultaneous production will be initiated in December 2024 from blocks one and two.
Boku continues with the mine development plan in preparation for production and has now increased operations at the Bonanza mine's first shaft ("Bonanza") to three shifts per day, which has seen progress accelerate
Looking ahead, Boku plans to increase again the number of shifts working at Bonanza from three to six, accelerating mine development and scaling production volumes, potentially achieving between 8t and 12t of vein material per day.
The current development plan includes deepening the principal shaft and opening a second, then third shaft at Bonanza, followed by opening a second mine at La Dorada.
Boku has secured the permits for the establishment and operation of its own gold ore processing plant ("La Patona Project") and entered into an option agreement with a landholder for use of its land (the "Land Agreement").....Boku has no financial obligations, and there are no upfront payments required for acquiring this option.
Saransky, a company established in Peru, is in the process of obtaining the required formalisation permits to conduct mineral processing and beneficiation activities at La Patona.
Boku is targeting initial production rates of between 3-5 tonnes per day ("tpd") building to 28 tpd by June 2025...The overall development plan for the concession forecasts achieving an aggregated daily production rate, across all operations, of between 38.5t and 64t per day of vein material by December 2025.
The initial plan involves installing machinery to process between 50t and 80t per day, focusing primarily on ore extracted from Bonanza and La Dorada.
In the medium term, Boku intends to scale the plant to 350t per day, the maximum capacity allowed for small-scale mining.