The company has been attempting to mitigate spending while engaged in a proposed recapitalisation fundraising; as a result of the temporary suspension approximately twenty operational staff as well as approximately sixteen corporate and administrative staff have been made redundant. A number of contractors have been stood down.
Eastern Goldfields will continue to produce gold in the short-term by removing all gold-in-circuit.
A statement from the company said that these decisions were ‘prudent in the short-term’.
Read the article online at: https://www.globalminingreview.com/finance-business/04092018/eastern-goldfields-suspends-davyhurst-mining-operations/