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Niuminco Group Half Year Results and Production Update

The ramp up of mining and production continued during the half with 730 tonnes of ore processed to produce 18.8kg (605 ounces) of gold and 16.1kg (517 ounces) of silver at an average gold grade of 25.8 grams per tonne of processed ore.
 
The increase was achieved through the introduction of a second excavator and two additional gold barrels (small rod mills) along with a re-arrangement of employee rosters and improvements in work methods. These increases were accommodated within the single day shift operation and with a minimal increase in staffing.
 
Plans to further increase mining and production capacity and efficiency include the proposed purchase of a second hand bulldozer (using equipment finance) and the recent cash purchase of a small (1.8m x 0.9m) ball mill. These purchases will have the potential to increase the rate of ore processing from the current 7 tonnes per day to 20-30 tonnes per day, with a consequential significant increase in gold/silver production and sales.
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