Central Asia Resources ships US$350,000 worth of gold for processing in Kazakhstan
Apr 05. Proactive Investors Australia
By Christine Feary
Central Asia Resources (ASX: CVR) has shipped 1.3 tonnes of gold-bearing resin for processing at the company’s Dalabai Gold Project in Kazakhstan.
The material shipped includes about 6 kilograms of gold which is valued at about US$350,000 based on the current gold price.
Once the first shipment is processed, it will be tested by the national laboratory of the Kazakhstan Government in order to secure export permits.
Central Asia has about 80,000 tonnes of ore stacked and leeching at Dalabai, which equates to 50% of the leach pad’s targeted capacity. The company will continue ramping up production at the project, and will provide cash costs guidance once nameplate production is reached.
In April Central Asia plans to commission the agglomerator at Dalabai to boost production by treating stockpiled fines, which contain about 20% recoverable gold.
Central Asia has made the decision to close its Perth office and streamline its operations in Kazakhstan, a move which will save the company $10 million over the next four years.
Central Asia Resources (ASX: CVR) is a gold and base metals exploration company transitioning to producer, with projects in the Republic of Kazakhstan ranging from near term production to greenfields.