Talk about perfect timing! Amidst a historic gold price rally, Canadian Nicola Mining (TSX.V: NIM, FSE: HLI, WKN: A14T7S) reports the delivery of the first gold concentrate from its Merritt mill — and initial revenues totaling several million dollars!
As part of its partnership with Talisker Resources, Nicola Mining began shipping its first gold concentrate in August. Under this agreement, which covers the mining, milling, and smelting of Talisker ores, the partners sold a total of 707 ounces of gold last month, generating gross proceeds of approximately US$2.3 million!
Production benefited from extensive plant modernization measures initiated by Nicola Mining during the preparation phase. These involved the automation of several aspects of concentrate production for flotation recovery.
Furthermore, the company’s installation of a large concentrator optimized the recovery of free gold. This improvement in the production process is significant for both the ore from the Talisker project and the ore from Nicola Mining’s Dominion Gold Project (75% interest).
The numerous modernizations implemented by Nicola Mining at its processing plant this year clearly had a positive impact on recovery and underscore the company’s ability to further increase gold production in the future.
As a Young Producer, Nicola Mining Fully Benefits from the Current Rise in Gold and Silver Prices.
Nicola’s CEO, Peter Espig, expressed great satisfaction with these improvements: “The culmination of our continuous modernizations of several mill facilities is the solidification of Nicola’s position as a producer ready to capitalize on gold and silver prices.”
The company is now continuing work on its Treasure Mountain Project. This silver mine, for which the mill now also used by Talisker was originally built, is very high-grade. Nicola Mining thus has the opportunity, as a young emerging producer, to fully benefit from the currently sharply rising prices for gold and silver.
