RE: What's happening22 Nov 2024 13:21
The last operational update was over a month ago. A lot can happen here in a month and there is sooooo much to update on as per below. Have a feeling we may see an operational update RNS next week.
The Land Agreement provides Boku with an eight month exclusivity period to undertake a feasibility study for the plant in order to confirm commercial and technical viability.
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.
the mine development plan has been optimised for preparation of future multiple blocks, ............ The Company expects the optimised plan will both accelerate, and ultimately increase production.
The vein material recovered so far will be stockpiled at the central camp until we finalise terms with a local producer, most likely once we establish steady production in December.
Initial revenue will be reinvested to accelerate mine development and optimise gold production.
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. The development at La Dorada will be similar to Bonanza.
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
As announced on 13 September 2024, the Company plans to scale gold production, establish a gold ore processing plant for its own and third party vein material, and, in the medium-term, to expand its operations to the exploitation of gold rich tailings deposits.
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