Red Mountain Mining (ASX:RMX) has drawn Chinese interest as the company continues to focus on the early mining cash-flow potential of the Batangas Gold Project in the Philippines.
A second Chinese processing plant operator has expressed interest in toll processing and/or ore purchases from potential early mining of the SWB lode.
A deal with a third party toll operator would significantly de-risk the project, and put it on the road to initial cash flow.
Recent work resulted in the discovery of a new high grade footwall lode at SWB. Adding interest, there are more trenching results to flow through in the near-term.
Managing director Jon Dugdale will present at Proactive's Sydney, Melbourne Investor Luncheons in August.
REGISTER TODAY by clicking on the links below:
Proactive's Sydney Investor Luncheon, Tuesday 4th August.
Proactive's Melbourne Investor Luncheon, Wednesday 5th August.
About Batangas
Batangas currently hosts a JORC 2012 Indicated and Inferred Resource of 6.19 million tonnes at 2.2g/t, or 444,000 ounces of contained gold.
This includes the high grade South West Breccia Indicated resource of 221,000 tonnes at 6.3 g/t gold, of which the majority is in the initial open pit mining inventory of 174,000 tonnes at 6.8g/t gold.
Upcoming catalysts:
- All permitting inputs completed and the Definitive Feasibility Study by the third quarter 2015.
- Exploration results from ongoing sampling and potentially drilling.
- A new resource model.
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