China Nonferrous Gold Operational Update
April 30 2018 - 1:23AM
UK Regulatory
TIDMCNG
China Nonferrous Gold Limited ??????????
("CNG" or the "Company")
Operational Update
China Nonferrous Gold Limited ?????????? (AIM: CNG), the mineral
exploration and mining company currently mining the Pakrut gold
project in the Republic of Tajikistan, is pleased to provide the
following operational update.
Continuous efforts have been made by the Company to fully
resolve the operational issues caused by avalanches and landslides
in early 2017. The collapsed electric towers have all been
re-established, and the damaged buildings and equipment have been
repaired. The current road to the Pakrut gold mine project has been
restored to its normal condition, and power supply is now
available. Construction progresses steadily, and production has
already recommenced:
-- As of this announcement, a total of 21,270 cubic meters of excavation
work has been completed in the level of 2350m/2230m/2110m. The
mining
operation has recommenced and 50,000 tons of ore have been
extracted.
-- The processing plant has completed its equipment overhaul and workshop
maintenance, and has already commenced production.
-- The smelting plant has also been well prepared and is expected to be
back to normal production by May 2018, subject to the production
of
gold concentrate. The whole Pakrut Gold Project is expected to
be
completely restored to normal production by then.
The construction of the Pakrut Gold Project is also progressing
well. The construction of underground projects such as ventilation
systems has been underway throughout the whole winter. It is
expected that the ventilation system engineering excavation and
equipment installation work will be finalized by the end of
September 2018. In early April 2018, the construction of surface
works such as the tailing pond, backfill station and camps has
commenced and all the equipment required for the backfill station
has arrived at the site. The overall construction of all projects
is expected to be completed during the fourth quarter of 2018.
The Company also notes its previous Financial Update announced
on 5 March 2018.
For further information please visit the Company's website
(www.cnfgold.com) or contact:
China Nonferrous Gold Limited
Yu Lixian, Managing Director
Tel: +86 10 8442 6681
Investec Bank plc
Jeremy Ellis, Alexander Ruffman
Tel: +44 (0)20 7597 5970
Blytheweigh
Tim Blythe, Camilla Horsfall
Tel: +44 (0)20 7138 3224
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180429005119/en/
This information is provided by Business Wire
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