Galena Mining

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 Australia.


Highlights

  • Abra Project 87% complete at end of the Quarter (14% of construction works completed during the Quarter). Project focus remains on underground access to the orebody and completion of the processing plant and remaining surface infrastructure.
  • Underground development achieved 771m advance during the Quarter remaining on schedule with the decline reaching 1,300mRL. The decline is 13m below the top of the orebody and 250m below the surface.
  • Overall processing plant construction has reached 93% complete. Plant engineering and drafting work is 100% complete and site construction work is 90% complete.
  • All key overseas supplied equipment has arrived on site.
  • Completed oversubscribed placement to raise A$17.2M.
  • US$25M final debt drawdown was completed under the Taurus Debt Facilities.
  • Cash balance at Quarter-end A$60.5M.

ABRA BASE METALS MINE (60%-OWNED)

Abra comprises a granted Mining Lease, M52/0776 and surrounding Exploration Licence E52/1455, together with several co-located General Purpose and Miscellaneous Leases. The Project is 100% owned by Abra Mining Pty Limited (“AMPL” the Abra Project joint-venture entity), which in turn is 60% owned by Galena, with the remainder owned by Toho Zinc Co., Ltd. (“Toho”) of Japan.

Abra is fully permitted and under construction. First production of its high-value, high-grade lead- silver concentrate is currently scheduled for the first quarter of 2023 calendar-year.

Click here for the full ASX Release

This article includes content from Galena Mining, 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)

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."

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." Keep Reading...
Galena Mining

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...
Galena Mining

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...
Galena Mining

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...
Prince Silver (CSE:PRNC)

Prince Silver Corp Announces Closing of First Tranche of Private Placement Financing

Prince Silver Corp. ("Prince" or the "Company") (CSE:PRNC)(OTCQB:PRNCF) is pleased to announce that further to its news release dated September 24, 2025, the Company has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement financing for gross... Keep Reading...
Ed Steer, silver bars.

Ed Steer: Silver Rally Now Unstoppable, Price to Hit Triple Digits

Ed Steer of Ed Steer's Gold and Silver Digest shares his thoughts on silver's run past US$50 per ounce, saying that in his view the bull market is just getting started. "One way or another we're going to run into a supply/demand brick wall, and when that day happens we could see triple-digit... Keep Reading...
Gianni Kovacevic, lithium-ion battery.

Gianni Kovacevic: Silver, Oil to Break US$100, but This is the Real Speculation

Investor and author Gianni Kovacevic discusses silver's price pullback, saying that in the long term he sees the white metal reaching triple digits. He expects oil prices to reach that level too, but emphasized that he sees lithium as the truly contrarian play for the rest of 2025 and into next... Keep Reading...
BP Silver

BP Silver Finalizes Targets for Upcoming Drill Program at its Cosuño Silver Project, Bolivia

BP Silver Corp. (TSXV: BPAG) ("BP Silver" or the "Company") announces that it has finalized targets for initial drill testing and has selected Maldonado Exploraciones, a premier Bolivian drilling contractor, to carry out the upcoming drill program at its Cosuño Silver Project ("Cosuño") in... Keep Reading...
Silver Hammer Mining (CSE:HAMR)

Silver Hammer Enters into Option Agreement to Acquire 100% Interest in a Strategic and Prospective Silver Project in the Silver Valley of Idaho

Silver Hammer Mining Corp. (CSE: HAMR) (the "Company" or "Silver Hammer") is pleased to announce it has entered into an option agreement (the "Option Agreement") on October 20, 2025 with Fahey Group Mines, Inc. ("Fahey"), pursuant to which the Company has been granted the right (the "Option") to... Keep Reading...

Latest Press Releases

Related News