
August 16, 2022
GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) is pleased to announce that the construction progress at its Abra Base Metals Mine (“Abra” or the “Project”) has reached 78% complete as of 31 July 2022. New milestones have been achieved with the commencement of the installation of the ball-mill components and total underground development passing 2km in early August.
Managing Director, Tony James commented, “Construction activities have progressed past 78% complete. Most of the concrete work has been completed and structural steel installation increased to 352 tonnes (72% complete). Plant construction work is quickly progressing into the mechanical, piping, and electrical fit out stages. It’s also pleasing to see the progress being made with the operational readiness activities including first fills and critical spares, with orders placed for over 75% of the items”.
Figure 1 – Abra ball mill installation (photo: 10 August).
Three other announcements were released by the company between this monthly update and the previous monthly update dated 18 July 2022. The first was “Re-release: Abra Initial Production Guidance” (ASX: 25 July 2022). The second was “Galena Successfully Raises
$17 Million” (ASX: 26 July 2022) and “Diggers and Dealers Investor Presentation” (ASX: 1 August 2022).
Update on Abra Project progress
Overall progress continues to remain in line for Project completion, with first commercial production expected in Q1 CY2023. The processing plant engineering, procurement and construction has reached 85% complete. As previously advised, the remaining items on the key equipment order list shown in Table 1 below which are currently not received are the flotation cells and the regrind mill. The flotation cells and drive mechanisms are currently in shipment with 2 separate shipments delivering the flotation equipment to Fremantle. The flotation cells (bulk shipment) are currently expected to arrive by the 2nd September and the flotation drive mechanisms (container shipment) has arrived in Perth. The regrind mill is currently shipping from Germany and is now expected to arrive in Melbourne by 20th August. The regrind mill is being shipped to Melbourne so that Glencore Technology can finalise assembly with some Australian components. These revised arrival dates do not affect the project construction timelines.
Table Notes – All items with strike through have been delivered (1) Flotation equipment shipped in 2 separate parts. Flotation cells ETA now 2 September and Flotation drive mechanisms have arrived in Perth. (2) Regrind Mill ETA Melbourne 17 August for final assembly by Glencore Technology.
Table 1 – Key equipment order and delivery schedule from overseas suppliers.
Mine decline development continued in the East Decline and the 1,375mRL diamond drill drive during July. A total of 243 metres was developed during July with the East decline reaching 1,360mRL. During July the second leg of the mines escape way system was drilled (1.5-meter raise bore) down to 1,400mRL (150m below surface). By the end of July, 16 underground diamond drill holes have been completed.
Figure 2 - Progress of the Abra underground mine development to 31 July (yellow).
In surface bulk earthworks, good progress continued with the tailing’s storage facility (“TSF”) passing 50% completion. The final works package associated with the remaining non- processing infrastructure is progressing as planned with the power station reaching 81% complete.
Owners' costs and contingencies remain within budget.
Figure 3 – Abra TSF construction.
Click here for the full ASX Release
This article includes content from GALENA MINING LTD., licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
G1A:AU
The Conversation (0)
12 September 2022
Galena Mining
Galena Mining CEO Tony James said, “People have been just sitting and watching how we would perform this year, a perceived difficult construction period. But we've done a great job."
12 December 2022
Abra Construction At 97% Complete – First Ore Stockpiled For January Processing
GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) is pleased to announce that the construction progress at its Abra Base Metals Mine (“Abra” or the “Project”) has reached 97% complete as of 30 November 2022. Processing plant commissioning is progressing quickly with practical completion... Keep Reading...
16 November 2022
Abra Construction At 92% Complete – Reaches First Ore Underground
GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) is pleased to announce that the construction progress at its Abra Base Metals Mine (“Abra” or the “Project”) has reached 92% complete as of 31 October 2022. Underground mine has reached the first ore (see ASX announcement 14 November... Keep Reading...
13 November 2022
Abra Mine Reaches Ore
GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) is pleased to announce that the underground development at its Abra Base Metals Mine (“Abra” or the “Project”) has reached the Abra orebody. Commissioning has commenced in several key areas of the processing facility and the Power Station... Keep Reading...
31 October 2022
Galena Mining Activities Report For Quarter Ended 30 September 2022
GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) reports on its activities for the quarter ended 30 September 2022 (the “Quarter”), primarily focused on construction of its 60%- owned Abra Base Metals Mine (“Abra” or the “Project”) located in the Gascoyne region of Western... Keep Reading...
10h
Silver's New Price Era: What Happens at US$50 and Beyond?
The price of silver is rallying close to its record high, up 62 percent since the start of the year as of October 8.The silver all-time high was US$49.95 per ounce, which it achieved on January 17, 1980. Now less than a dollar shy of that target, trading at the US$49.50 per ounce level, the... Keep Reading...
07 October
Ted Butler: Silver's Bull Run — Price Drivers, Stocks, What's Next
Precious metals analyst Ted Butler discusses silver's recent price run and what's next. "The idea that this bull market is over is a fallacy. I would exercise caution, because I believe we're due a correction. But I'm very happy with silver's performance so far year-to-date," he said. Butler... Keep Reading...
07 October
What Was the Highest Price for Silver?
Like its sister metal gold, silver has been attracting renewed attention as a safe-haven asset. Although it continues to exhibit its hallmark volatility, many silver investors believe that a bull market is starting up for the precious metal. Experts are optimistic about the future, and as the... Keep Reading...
06 October
David Morgan: Silver's Rubicon Moment? US$50 in Sight, but Watch for Shakeout
David Morgan, publisher of the Morgan Report, shares his thoughts on silver as the white metal's price approaches US$50 per ounce. He believes silver may be approaching a "crossing the rubicon moment," but emphasized that its move comes amid a much broader transition in the financial system.... Keep Reading...
06 October
Southern Silver Initiates Drill Program at the Puro Corazon Mine on its Cerro Las Minitas Property, Durango, Mexico
Southern Silver Exploration Corp. (TSXV: SSV,OTC:SSVFF) (the "Company" or "Southern Silver") reports today that crews have mobilized in preparation for drilling on the newly acquired Puro Corazon claim, contiguous to its 100% owned Cerro Las Minitas project, Durango Mexico.The exploration... Keep Reading...
03 October
Silver Price Surges Above US$48, Approaches All-time High
The silver price kept surging on Friday (October 3), breaking US$48 per ounce. The white metal last reached this level in 2011, the same year it nearly hit US$50 for only the second time in history. Silver's first run to the US$50 level came in 1980, when the Hunt brothers attempted to corner... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00