Central Asia Resources (ASX:CVR) is on track to receive in mid-July first revenues from its Dalabai Gold operation in Kazakhstan with its restart progressing as scheduled.
It is also raising up to $1.5 million through an issue of shares to new and existing shareholders along with restructuring its debt.
The company had previously noted that an Australian equity fundraising would be part of its seeking relisting on the ASX.
Dalabai is now commencing commercial mining following on from the Trial Mining and treatment of stockpiles in 2012 and 2013.
Irrigation of Leach Pads 1 and 2 are underway with gold being concentrated on resin.
Meanwhile, drill and blast activity on the Central Pit is underway, with mining to commence in early July.
An additional cone crusher is being dispatched from China, and is expected to be commissioned by August.
Dalabai is located in the Chu Ili gold belt in southern Kazakhstan. It is expected to produce 1,500 ounces of gold per month.
The company has also reached an agreement with the lenders of its gold loan and the Millstar Holdings Convertible Loan to accommodate the delayed start of Commercial Mining at Dalabai.
The Millstar loan has been extended by 8 months to 15 August 2015 with consideration for the extension being equivalent to that offered to Manas Resources (ASX:MSR) for the extension of their loan, being interest of 3% per month.
Central Asia will also compensate West Asian Minerals, which provided the gold loan with a further 8.33 ounces of gold per month for the remaining 23 months of repayments, which will recommence in August.
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