Media ReleasesConvergent Minerals

View All Convergent Minerals News


Convergent Minerals Ltd, Quarterly Activities Report and Scoping Study Update to 30th June 2013

HIGHLIGHTS

-  Early positive scoping results have concentrated the company’s efforts to move towards rapid transition to the underground development of the Blue Vein mine at Mt Holland

-  Scoping studies to date indicate that Blue Vein and Van Uden are both viable development options

-  Indicative positive cash-flow from the first 3 years of underground operations at Blue Vein in excess of $40 million

-  The initial underground mine life of 3 years at Blue Vein is currently constrained by drilling. With the highest gold grades being in the deepest drill holes, further drilling is anticipated to significantly increase mine life

-  Based on current contractor mining rates and CIL processing, early studies indicate total cash costs of production of around AUD$800/ounce

-  Work continues on optimizing capital costs of processing plants, including the use of modular CIL components and CVG’s existing infrastructure where applicable

-  Core processing plant infrastructure and services (power, water, roads, processing ponds and tailings storage facilities) are already established and will significantly reduce the expected capital cost requirements.


To view Report please download PDF below:

Download this document

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.