South America’s newest gold mine, the Eagle mine owned by Goldsource Mines (GXS.V) is ready for commissioning after the construction of the $5M mine has been completed. It’s remarkable to see the total initial capital expenditures to come in at less than $5M whereas the original Preliminary Economic Assessment was expecting the capex to come in around $5.9M (approximately 20% higher).
The first phase of the Eagle mine is currently being commissioned and once the nameplate capacity will have been reached, the plant will process 1,000 tonnes of ore per day which should be ramped up to 4,000 tonnes per day.
We will be keeping an eye on further developments as Goldsource might be able to do some nice things once the cash flow starts pouring in.
Go to Goldsource’s website
The author holds a long position in Goldsource Mines. Please read the disclaimer
