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Published on Aug 15, 2016
Howard
Stevenson, chief executive of Lydian International Ltd, is very excited
about the potential of the group's flagship Amulsar gold mine in
Armenia, where engineering work has now started.
The group has $123mln in the bank, which will see it through all activity this year, he says.
This is a large scale, low cost, technically simple open pit project, where the all-in-sustaining-costs are US$585 an ounce and the recovery on the leach pad is put at 87%.
And that's just for the first ten years. There are resources in the ground to go beyond that.
Next year will see the completion of bulk earth works and the beginning of the construction of buildings, with a first gold pour earmarked for the first quarter of 2018 - a milestone moment.
http://www.4-traders.com/LYDIAN-INTERNATIONAL-LTD-1410710/
http://www.4-traders.com/LYDIAN-INTERNATIONAL-LTD-866268/
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