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Komet Resources Inc. (TSXV:KMT) had a significant increase in gross sales of gold in the second quarter of 2016 from $383,164 on March 31, 2016, to $658,586 on June 30, 2016.
Komet Resources Inc. (TSXV:KMT) had a significant increase in gross sales of gold in the second quarter of 2016 from $383,164 on March 31, 2016, to $658,586 on June 30, 2016. The production rates at the Guiro Mine are improving every month as the rehabilitation work is still ongoing.
Project Update
To summarize, here are the recent developments at the Guiro Mine: the second gravimetric concentrator has been operating since July 1st, 2016, the Consep Acacia CS250 Intensive Leach Reactor (ILR) which will process concentrates with high efficiency and the third concentrator have been ordered. These acquisitions will almost complete the flow sheet planned since 2014.
Several pieces of equipment, parts and consumables orders are underway to Burkina Faso, many by sea freight containers, and will be delivered over the coming weeks and months. All these acquisitions are aimed at improving operations and avoiding further production shutdowns.
Concerning exploration, an airborne geophysical survey of the Guiro/Diouga permit is planned and should be launched soon to further define the property. Drilling campaigns are scheduled on Guiro/Diouga (Burkina Faso) and Moussala (Mali), Komet’s recent acquisition. The geological team is currently planning the campaigns in order to proceed at the end of the rainy season, i.e. during Q4.
Issuance of a research report
Komet is also pleased to announce the issuance of an initial research report compiled by New York-based consulting firm, RB Milestone Group LLC (“RBMG”).
RBMG’s initial research report can be accessed by visiting Komet’s corporate website (https://kometgold.com/en). The report provides a thorough overview of Komet’s production and its steps towards scaling up operations. RBMG’s market intelligence team also provides a good overview of the current and future position of the gold market.
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