Gold production commences at A1 Minerals Brightstar Gold Project
A1 Minerals Ltd announced today the commencement of its gold production as it moves out of the commissioning stage of the Brightstar Gold Project in the Laverton region of Western Australia.
The mining company said it has achieved 1,151 ounces of refined gold at an average received price of $1,268.54 per ounce and 215 ounces of silver at $20.13 per ounce during the commissioning of its Bright Star Gold Project.
The Brightstar gold plant has been established adjacent to A1 Minerals Beta mine and was done to accommodate expanding gold output.
A1 Minerals managing director John Williams said the mining company now expects to have regular gold pours each 1-2 weeks with over 46 kg of unrefined gold.
A1 Minerals said it is expecting to generate strong cash flow with the gold price recently rising above $1,400. A1 Minerals reported that its sales from gold production have now exceeded $1 million.
"As cash flow continues to improve and immediate mill and camp facilities are completed, there will be an aggressive build up of exploration both for converting more resources to reserves and to drill identified targets --- particularly those near the gold plant," said Williams.
A1 Minerals is one of the major gold tenement owners, with a holding of about 500 sq km and with a JORC Code open cut ore reserve estimate of 150,000 ounces included in mineral resources of 1.7 M oz.