Business
Confirmation of Preliminary Economic Assessment
Confirmation of Preliminary Economic Assessment.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n 15 January 2014\n\n \n Conroy Gold and Natural Resources plc \n\n Confirmation of Preliminary Economic Assessment \n\n * Metallurgical Review Confirms Preliminary Economic Assessment\n \n * Sulphur Head Grade Lower\n \n * Capital and Process Operating Costs Reduction\n \nConroy Gold and Natural Resources plc (\"Conroy\") (AIM: CGNR, ESM: CGNR.I), the\ngold mining company which is planning to develop its first operational gold\nmine at Clontibret in Co. Monaghan, Ireland, is pleased to announce that a\nreview by independent consultants Tetra Tech Inc. (\"Tetra Tech\") of the results\nof the final mineralogical and metallurgical testwork programme on the ore\ngrade material sent to Gold Fields/Biomin in South Africa, has validated the\nPreliminary Economic Assessment (\"PEA\") (Scoping Study) process design criteria\nand operating costs.\n\nThe final mineralogical and metallurgical testwork results were analysed and\nevaluated by Tetra Tech in advance of an anticipated prefeasibility study (PFS)\nenabling Tetra Tech to confirm the preliminary estimates for the processing\nplant.\n\nThe review of the metallurgical testwork results confirmed the key process\ndesign parameters, including the amenability of the ore to bio-oxidative\npre-treatment, and the suitability of the proposed BIOX® oxidation process.\nOther than a lower sulphur grade in concentrate, results were as anticipated in\nthe PEA. The decreased sulphur grade implies savings in both capital and\noperating costs.\n\nIn relation to these savings the capital cost for the proposed processing plant\nis now estimated by Tetra Tech at US$ 18.5 million compared with the US$ 20.16\nmillion in the PEA and the process operating costs are estimated to fall from\nUS$ 13.64/t to US$ 12.26/t.\n\nThis release has been approved by Eur.Ing. Andrew J. Carter C.Eng, MIMMM,\nMSAIMM, SME, Competent Person for Mineral Processing, an employee of Tetra Tech\nwhich is independent of Conroy.\n\nProfessor Richard Conroy, Chairman commented:\n\n\"I am delighted by Tetra Tech's independent confirmation thatthe testwork\nresults on the ore grade material sent to GoldFields/Biominvalidate the process\ndesign criteria. I am especiallypleased at the significantreduction in capital\nand operating costs forboth the development and operation of the mine.\"\n\nFor further information please contact:\...