Galena Mining hails first positive monthly cashflow for Abra

(via NewsDirect)

Galena Mining Ltd (ASX:G1A) managing director Tony James discusses with Proactive a major milestone achieved in July with the Abra Base Metals Mine in Western Australia becoming cash flow positive as the ramp-up towards steady state production continues. Last month Galena shipped 9,254 tonnes of concentrate from Abra, generating some $17 million in revenue even as the site’s processing plant milled over 105,000 tonnes of ore.

Meanwhile the company has also delivered its first annual mineral resource update for Abra - underground diamond drilling, geological mapping and mining and processing activity have all contributed to the update, which brings the Abra resource to 33.4 million tonnes of ore at 7.1% lead and 17 g/t silver (calculated at a 5% lead cut-off grade).

James said the updated resource reflects 12 months of hard work that greatly improved the company’s understanding of the Abra deposit.

“Importantly, it shows no material difference from the April 2021 MRE, and therefore continues to support our long-term mining plans,” he explained.

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