Re: Avion reaches commercial production at Segala, Tabakoto
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May 06, 2009 09:05AM
Avion holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production commenced at these projects in 2009 with approximately 51,290 ounces produced. 2010 production was 87,630 ounces of gold.
2009-05-06 12:26 ET - News Release
Mr. Rene Bharti reports
AVION DECLARES COMMERCIAL PRODUCTION IN MALI AND INITIATES STUDY TO DOUBLE PRODUCTION TO 200,000 OZ/YR
Avion Resources Corp. has reached "commercial production" at its Segala and Tabakoto gold project in Malias as of May 1, 2009.
Avion commenced production on Feb. 17, 2009, as planned. Between Feb. 17 and April 30, the company has:
John Begeman, the president and chief executive officer of Avion, stated: "We previously targeted commencing commercial production by July 1, 2009. Avion restarted the crusher, mill and gold-recovery plant in mid-February as planned, and has realized steady, uninterrupted production at average daily rates of 1,800 tonnes (planned maintenance and mechanical availability included) per day for 2-1/2 months. Avion has achieved a sustainable commercial production rate two months ahead of schedule."
Avion expects total produced gold for 2009 to be 66,000 ounces at a cash cost of $509 (U.S.) per ounce. Through March 31, 2009, Avion has produced 6,211 ounces of gold, which is more than 1,000 ounces ahead of plan at a cash cost of $423 (U.S.) per ounce.
Mill availability has averaged 96.9 per cent and overall gold recovery has averaged 91.7 per cent on a year-to-date basis.
PRODUCTION SUMMARY AS OF MARCH 31, 2009 Actual Budget Tonnes milled 76,024 73,200 Gold produced (oz) 6,211 5,198
Avion plans to expand production
Avion is currently evaluating the possibility of increasing production throughput by adding plant capacity to its site infrastructure in Mali. Changes to the site infrastructure may include the possible addition of crushing and grinding equipment and related gold recovery capacity. Engineering studies will begin shortly. The goal of the studies will be to evaluate the ability to: