Proactiveinvestors United Kingdom Nord Resources https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Nord Resources RSS feed en Mon, 22 Jul 2019 17:53:35 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Nord Resources says copper production increasing at Johnson Camp mine ]]> https://www.proactiveinvestors.co.uk/companies/news/70765/nord-resources-says-copper-production-increasing-at-johnson-camp-mine-2107.html Tuscon-based copper miner Nord Resources Corporation (TSX: NRD) said today production was steadily ramping up at its Johnson Camp mine in Arizona, and it believes it is on track to reach the annual copper production target in 2009.

 

Nord said the production improvements are a direct result of the modifications that have been made to material handling system to increase the throughput rates at the mine, helping it reach 80% of the target throughput rate over the past few weeks. During the last week of July copper production averaged a monthly rate of about 1.3 million pounds, almost double the rates experienced in Q2.

 

The company plans to implement further measures to lift the annual copper production rate at the 2,723 acre mine, which is the Nord’s principal asset, to 25 million pounds, which Nord believes it can achieve as soon as this year.

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Thu, 06 Aug 2009 15:34:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/70765/nord-resources-says-copper-production-increasing-at-johnson-camp-mine-2107.html
<![CDATA[News - Nord Resources reports slight delay of ramp-up to full copper production at Johnson Camp ]]> https://www.proactiveinvestors.co.uk/companies/news/70511/nord-resources-reports-slight-delay-of-ramp-up-to-full-copper-production-at-johnson-camp--1726.html Nord Resources Corp (TSX: NRD) said it still expects to reach its target of 25 million pounds of copper production per year at the Johnson Camp Mine in Arizona, “but it is going to take longer than we had planned.”

In a statement, the group said in ramping up the production rate of new ore, it has experienced encouraging success as well as some short-term challenges that resulted in a total production rate that is currently below its expectations.

President and chief executive John Perry commented: "These issues are not unusual in our industry and are only affecting the timing of reaching our target of 25 million pounds of copper production per year. We fully expect to achieve that level, but it is going to take longer than we had planned."

Changes to the leach pads are expected to cost approximately US$750,000 and will put Nord Resources on track to achieve the design copper production of 25 million pounds per year rate this year.

The temporary delay in the ramp up of the production rate will negatively impact cash flow in the short term. Accordingly, the company will be proceeding with a brokered financing of approximately C$5,000,000 to be used for working capital and other purposes, Perry added.

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Mon, 22 Jun 2009 15:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/70511/nord-resources-reports-slight-delay-of-ramp-up-to-full-copper-production-at-johnson-camp--1726.html
<![CDATA[News - Nord Resources’ Johnson Camp mine production estimate raised in scoping study ]]> https://www.proactiveinvestors.co.uk/companies/news/69600/nord-resources-johnson-camp-mine-production-estimate-raised-in-scoping-study-0622.html Nord Resources Corp said a scoping study has found that the company can cost-effectively increase its production from the Johnson Camp copper mine in Arizona to an estimated rate of 40 million pounds of copper per year from the current plan of 25 million pounds.


The study by Bateman Litwin, an international firm of mining and processing consultants, estimates the 60 percent increase in the targeted annual production rate to 40 million pounds of can be achieved with an additional capital investment of less than US$20 million, Nord Resources said.


President and chief executive officer John Perry said:  "We have been making excellent progress at the mine towards meeting our schedule to commence the production of new copper ore in the first quarter of 2009. We continue to expect to reach a rate of 25 million cathode pounds per year by next spring.


"We expect that our cash flow will increase with our planned reactivation of mine production in early 2009, at which time we intend to commission the feasibility study that will be required to increase our planned production rate to 40 million pounds of copper a year,” Perry added.


Completion of the feasibility study will take approximately six months from the date it begins.


Bateman Litwin estimates that, if the company decides to pursue the opportunity presented by the scoping study, the ramp-up to the increased production rate can take place within approximately 20 months from the start of the feasibility study.

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Tue, 18 Nov 2008 00:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/69600/nord-resources-johnson-camp-mine-production-estimate-raised-in-scoping-study-0622.html