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Cambridge Mineral starts production at Quintana gold mine, Colombia

20th Nov 2008, 12:03 pm Cambridge Mineral starts production at Quintana gold mine, Colombia

Cambridge Mineral Resources PLC (CMR) said it has commenced production  at  its Quintana gold mine in Colombia on November 9 with first gold being poured on November 19. It estimates Quintana will produce circa 15,200 ounces of gold and 6,000 oz of silver  per annum over a minimum five year mine life.


CMR has completed work on the 5.1 kilometre access road to the mine site, including deepening and equipping the mine, installing a modern tailings management facility, a 60 bed mine camp and  the  processing plant. The  plant  is  now  becoming  fully operational and has commenced commercial production at a nominal 75 tonnes per day, processing  daily mine  production  and  stockpiled  ore.  


CMR has a sales contract in place with CIIGSA, a long-established Colombian gold refiner, with sales prices based on the London p.m. gold price fix on  the day of delivery to the refinery. Gold dore sales will commence shortly.


CMR Managing Director Colin Andrew said: “With cash operating costs estimated to be approximately US$131 per oz gold over the life of mine, we expect Quintana  to be  a  low-cost producer demonstrating good profit margins.

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