Galena Mining at project financing stage after Abra lead-silver mine is valued at $553 million
Galena hopes to secure debt funding so it can start producing at Abra in 2021 and have its first full year of commercial production in 2022.
Company
ASX:GNG
GR Engineering Services Ltd (ASX:GNG) is listed on the Australian Securities Exchange.
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Galena hopes to secure debt funding so it can start producing at Abra in 2021 and have its first full year of commercial production in 2022.
The company has been granted a key approval by the State Government to build processing plant and tailings storage facilities.
De Grey’s recent drilling program intersected high-grade underground gold lodes at its flagship Pilbara Gold Project.
The company’s pre-feasibility study estimated a 52-year mine life for the project.
Galena is firmly focused on building its Abra base metals mine from next year and producing lead-silver concentrate by 2021.
Consultant and contractor GR Engineering Services will undertake key components of the DFS.
The company was awarded contracts by AngloGold Ashanti (ASX:AGG), Dacian Gold Ltd (ASX:DCN) and Western Areas Ltd (ASX:WSA) in 2017.