Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) told investors it has begun commercial production at its Vareš Silver mine in Bosnia and Herzegovina.
This declaration comes as the Vares plant has reached 75% throughput over the past 14 days, including 80% over 7 days, and hit 2,000 tonnes per day at 90% capacity in late June.
"We are proud to announce the achievement of commercial production at the Vareš Silver Operation, marking a significant milestone that demonstrates our ability to operate at production levels that support strong cash generation,” managing director Laura Tyler said in a statement.
It follows the completion of the Veovača Tailings Storage Facility in March and the start of tailings deposition on 2 April. A new access road linking the processing plant to the facility has also supported the operation and has been in use for the past month.
Mining at the mine’s Rupice deposit progressed with 900 metres of underground development completed in the second quarter, setting a quarterly record, Adriatic added.
The plant is operating consistently with required permits, equipment and personnel in place, it said.