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SolGold's results are about to soar as the flagship copper mine touches the gold mine
Oct 29,2019 14:49CST
The content below was translated by Tencent automatically for reference.

SolGold raised its forecast for its flagship copper mine because it could generate an additional $8.7 billion (£6.8 billion) in revenue during its metallurgical period, SMM reported.

Metallurgical tests show that the Australian company's Alpala project has been marked as a future first-class copper mine, with a significant increase in the amount of copper, gold and silver that can be mined.

The results show that an additional 4.4 million ounces of gold, 24 million ounces of silver and 354000 tons of copper will be recovered.

Commenting on the results, SolGold CEO Nicholas Mather said: "the latest metallurgical recovery rates for copper, gold and silver are really impressive. Compared with the decline in global concentrate grade and quality, SolGold hopes to gain some substantial competitive advantage in the Alpala project compared with other undeveloped copper and gold resources around the world. "

Analysts at Liberum, an investment bank, described the mine as "one of the largest and highest grade undeveloped copper discoveries in the world".

BHP Billiton and Newcastle are both major investors in SolGold, with a stake of more than 10 per cent.

A preliminary feasibility study is expected to be carried out in the first quarter of 2020.

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