Brisbane, Australia, Nov 30, 2022 - (ABN Newswire) - Tombola Gold Ltd (ASX:TBA) is pleased to provide the following update further to the Company's previous announcements regarding the expected commencement of gold production at the at the GAM Plant during Q4, 2022.
- Gold processing scheduled to commence on 8 December 2022, with all plant and equipment installation to be completed imminently.
- 20,000 tonnes of materials now delivered to the GAM plant Run of Mine ("ROM") pad.
- Haulage of material to GAM continues to provide continuity of gold production.
- Power Station completion scheduled today.
- Carbon and cyanide delivered to site.
As the refurbishment of the GAM plant nears completion, gold processing is scheduled to commence on 8 December 2022, with all plant and equipment installation to be completed imminently, and gold pours expected to occur on a weekly basis.
As announced on 28 October 2022, Tombola commenced haulage of material for processing and crushing, with a total of 20,000 tonnes of material now having been delivered to the GAM plant Run of Mine ("ROM") pad from Comstock and Shamrock. Haulage is ongoing with an initial 90,000 tonnes of material scheduled for delivery (refer ASX Release 28 October 2022), to provide continuity of gold production.
Tombola Managing Director, Byron Miles, commented:
"Further to our previous updates, we are now very excited to confirm that processing will commence at the GAM plant on the 8th of December, with gold pours anticipated to occur on a weekly basis, as we continue to generate cash flow.
With 20,000 tonnes of material now on the ROM Pad, haulage continues from Comstock and Shamrock to ensure enough material to continue to feed the GAM plant, whilst we continue to work towards bringing the Vats and Lorena CIL plant online to achieve the lowest possible All In Sustaining Cost.
With $500,000 of gold from first production pre-sold and Australian Bullion Company contracted to purchase ounces on an ongoing basis, Tombola will enter 2023 with strong cashflow generation as we continue to execute on our strategy of becoming a significant Australia gold producer.
We look forward to the successful completion of the first pour as this will mark a monumental milestone for the Company."
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<b>About Tombola Gold Ltd:</b>
Tombola Gold Ltd (ASX:TBA) is a company assembled by experienced, exceedingly well-qualified and all very well rounded team members that have previously floated exploration companies which achieved major resource discoveries and success. Between the Tombola team members, Tombola as a company have well over 100 years of accumulated experience in the mining, exploration and resource sector.
Tombola principal objective is to acquire assets to explore for and develop a large IOGC or porphyry deposit funded by low-risk gold production resources. To that end, Tombola has a license covering 970 sq km prospective for gold/copper in the Mount Bryan-Red Banks-World's End area near Burra in South Australia; with strategic agreements with Queensland Mining Corporation.
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