Antilles Gold Limited (ASX: AAU) is confident that the updated Scoping Study for the proposed La Demajagua open pit mine in Cuba will be finalised in around two to three weeks after confirmation of the likely sale price of the antimony – gold – silver concentrate to be produced from the mine.
An acceptable indicative offer has been received from a major international trading company for the separate gold concentrate that will be produced and shipped to several smelters that can accommodate its high As levels.
The joint venture company, Minera La Victoria SA, which is developing the La Demajagua mine, has engaged Brisbane based consultants, West End Mining Co (WEMCO), to assist in marketing the antimony concentrate due to their experience in successfully marketing similar concentrates, and their established contacts with antimony smelters.
WEMCO has provided the target specification for the La Demajagua antimony concentrate to specialist smelters in China, Vietnam, India, and Oman, all of whom have indicated strong interest in the product.
WEMCO will advise their preferred buyer and appropriate pricing within two weeks which will allow the revised Scoping Study to be finalised a few days later.
Additional antimony assays from the recent drilling program at La Demajagua, ongoing metallurgical test work, and further engineering by the preferred turnkey process plant constructor will refine the design and costing of the flotation circuit for inclusion in the following Definitive Feasibility Study (DFS).
In parallel with the DFS, which is expected to be completed in March/April 2023, a specialist South African based engineering group is undertaking a review of the prospect of increasing the project’s profitability by producing doré from the arsenopyrite gold concentrate through a relatively small BIOX/CIL plant.
Preliminary indications are that this concept will be worth considering.
For further information please visit: https://antillesgold.net/
