Australian engineering, development and operating company GRD Ltd
(ASX:GRD) says its engineering company GRD Minproc has been engaged by Kentor Gold Ltd
(ASX:KGL) to undertake a definitive feasibility study into the high grade Andash gold-copper project.
Australian gold explorer, Kentor says Andash is targeted for production in 2011 at the average annual rate of 60,000 ounces of gold and 5,000 tonnes of copper for eight years.
GRD Minproc will update and optimise the study by March 2010, with the aim of improving gold recovery and concentrate grades.
The Andash project is located in the Tien Shan Gold Belt in central Asia.
Kentor holds an option to purchase an 80 per cent interest in Andash.
Kentor managing director Simon Milroy says the company’s financial, technical and legal due diligence on Andash has shown the project to be economically robust and technically feasible.
Kentor Gold has posted net losses in the last five years, and GRD reported a loss of $62.2 million in 2008.
