The Conversation (0)
Castle Mountain Mining Company Limited (TSXV:CMM) has received a positive Preliminary Economic Assessment for its 100% controlled Castle Mountain Mine in San Bernardino County, California. The study was completed by RPA Inc. with the collaboration David Penswick, P. Eng., and the Castle Mountain technical team.
Castle Mountain Mining Company Limited (TSXV:CMM) has received a positive Preliminary Economic Assessment for its 100% controlled Castle Mountain Mine in San Bernardino County, California. The study was completed by RPA Inc. with the collaboration David Penswick, P. Eng., and the Castle Mountain technical team.
As quoted in the press release:
Castle Mountain is in possession of the key permit required to re-start operations. It is expected that the remaining permits will be acquired in parallel with the feasibility study and that, subject to the availability of project finance, it would be possible to start construction during 2015.
Castle Mountain CEO, Gordon McCreary, said:
We are extremely pleased to have completed this important milestone on the path to re-opening of the Castle Mountain Mine. The PEA has delivered all that we had anticipated: the scalability of the Project, strong economics at various gold prices, with a relatively low pre-production capex. With an average annual production in excess of 176,000 ounces of gold, a pre-production capex below $100 million, the key mining permit in hand and in a stable jurisdiction, we believe that the Castle Mountain Mine is amongst the best gold development projects in the world today. We plan to continue to advance the Project through to Feasibility Study stage before year end, which combined with the existing mining permit show that this Project has a very short path to production.
Click here to read the Castle Mountain Mining Company Limited (TSXV:CMM) press release
