24.3 C
Supported byspot_img

Stratex Intern Altintepe gold mine increases production in 2016

Member of Europium Groupspot_img
Supported byspot_img

Altıntepe Madencilik gold mine has generated total revenues of US$14.3 million.

Stratex International’s was the sector’s biggest riser in late trading after reporting a significant increase in gold production on its 45%-owned Altıntepe gold mine in Turkey in the first 2.5 months of the year.

First gold pour was reported at the end of 2015 and sales up to 16 March stood at 12,280 oz gold, and to date the operating company Altıntepe Madencilik has generated total revenues of US$14.3 million.

Supported by

Chief executive Bob Foster said:: “Altıntepe has seen a significant increase in gold production in the first 2.5 months of the year and is on target to deliver the minimum expected annual production of 30,000 oz gold during 2016. Our partner Bahar Madencilik has managed the initial ramp-up very successfully and we are now working closely with them to optimise the mine development schedule for the next few years. This will allow us to critically evaluate the requirements for working and development capital.”

Supported byElevatePR Digital

Related News

Canada Nickel reveals initial resource estimate for Deloro project, underscoring Timmins District prospects

Canada Nickel has announced the initial mineral resource estimate for its Deloro nickel sulphide project, located in Ontario's Timmins-Cochrane mining camp. This estimate marks...

Resouro Strategic Metals unveils extensive resource estimate for Tiros titanium and rare earths project

Resouro Strategic Metals, a recent entrant into Brazil’s rare earths sector, has unveiled a significant resource estimate for its Tiros project located in Minas...

NMMC targets $1 billion investment in 2024 to expand gold production capacity

Navoi Mining and Metallurgical Combine (NMMC), the world’s fourth-largest gold producer and Central Asia’s largest gold miner, has announced an ambitious investment program for...

U.S. and Kazakhstan strengthen energy partnership at 2024 Strategic Dialogue in Astana

On July 18, 2024, the U.S. Department of State and the Department of Energy, in partnership with Kazakhstan’s Ministry of Foreign Affairs and Ministry...
Supported by
Supported by
Supported by
error: Content is protected !!