Mexus Gold US has recently announced that the company has resumed full operational production after a slow down due to COVID-19.
On 23 May 2020, the company resumed crushing and the placement of mineralised material on the heap leach pad. Leaching has been continuously flowing at 0.019 g/t to 0.048 g/t from 1 March 2020 to now. The company expects grades to go back up to 0.05 g/t given the results of the assaying done on this material.
The company recently retired a US$142 000 loan using stock held in reserve by the lending company. Although this loan was not optimal, it did assist the company in getting the mine into production.
For the last 3 months, the company has been able to operate and expand using gold sales only and without taking on further debt. The infrastructure at Mexus’ Santa Elena mine is valued at over US$10 million.
Read the article online at: https://www.globalminingreview.com/mining/26052020/mexus-resumes-full-operations/
You might also like
ABB has signed an agreement with Gravitricity to explore how hoist expertise and technologies can accelerate the development and implementation of gravity energy storage systems in former mines.