GOLDEN EAGLE, Cueva Blanca to start gold prod. Sept.30
Bolivia, Sep 24, 2002 (BNamericas.com via COMTEX) -- Salt Lake City-based
Golden Eagle International (OCTBB: MYNG) will start production at the rate of
1,000t/d at its Cueva Playa gold processing plant in western Bolivia's Cangalli
mining district on September 30, company president Terry Turner told BNamericas.
Test runs of some 50-100t/d a day to optimize recovery equipment at the plant
have thrown up no "bad surprises" and "a lot" of gold has been produced,
although the company has not begun to quantify it, said Turner.
"We have produced gold for first sales in 3Q02 and made projections for sales in
the Q4," he said.
The plant currently has the capacity to process 2,500t/d and, depending on how
the operation develops, the US junior plans to expand capacity and gradually
ramp up to 11,000t/d.
Reserve and grade figures on the 29,947ha Cangalli land package are being kept
confidential until the company has sufficient data to comply with Securities &
Exchange Commission reporting regulations. Turner had previously told BNamericas
that preparing a report on the economic viability of the project will be a main
priority for the company once production starts.
Golden Eagle also holds exploration concessions on 50,000ha in eastern Bolivia.
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KEYWORD: Bolivia
SUBJECT CODE: Gold/Silver Mining
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