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Galane Gold Ltd. reports board approval to re-commence production at Galaxy
Galane Gold Ltd. reports board approval to re-commence production at Galaxy Galane...
About this update from Golconda Gold Ltd
[{"type":"text","content":"\n\n\n\nGalane Gold Ltd. reports board approval to re-commence production at Galaxy\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\nGalane Gold Ltd. reports board approval to re-commence production at Galaxy\nCanada NewsWire\nTORONTO, July 18, 2016\n\n\n\nTORONTO, July 18, 2016 /CNW/ - Galane Gold Ltd. (\"Galane Gold\" or the \"Company\") (TSX-V: GG) is pleased to announce that the board of directors of the Company has approved a US$2.0 million capital expenditure program required for the first phase of the recommencement of production at the Company's Galaxy Gold mine in South Africa, up to a target of 60,000 ounces per annum.(1) The Company anticipates that the first phase will take six months to complete and it will be funded from internal cash flows primarily from the Company's core operation in Botswana.(1)  \n\nThe first phase of the capital project will commence in July 2016 and is designed to refurbish existing infrastructure and upgrade the processing facility to take production to 18,000 ounces per annum. (1)  The first phase covers the following steps:-\n\n\nThe refurbishment of the existing 15,000 tonnes per month processing plant which will include the installation of a new crusher, remedial work to the float section, a new gravity separation section and re-establishment of the elution plant. \nThe construction of a new 25,000 tonnes per month carbon in leach tailings retreatment plant within the current footprint of the existing processing plant. \nThe recommencement of underground mining at Woodbine, Agnes and Ivy on seventeen level using conventional shrink stope mining. \nThe commencement of tailings recovery by sluicing at the Woodbine and Hostel dumps. \n\nThe Company will be using positive cash flows from its other operations and ...