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Primary Gold's share price increases ahead of transition to gold producer

Receipt of final approvals will allow the company to progress to mining at Coolgardie.
Picture of truck at mine site
The company's shares increased 25% as a clear pathway to production became evident

Primary Gold Ltd (ASX:PGO) has received the final regulatory approval required to commence mining at its Coolgardie Project in the Goldfields region of Western Australia.

With the mining proposal and accompanying mine closure plan approval in place, the company expects to commence mining in the first quarter of 2018.

As ore toll treatment procedures are in place, Primary Gold is poised to be generating revenue in the near term.

This news has been well received with the company’s shares trading higher yesterday, ending the session 25% stronger at $0.049.

Primary Gold will now start to prepare the site for mining, while establishing firm schedules in terms of ore production and processing, as well as toll treating.

Prefeasibility study confirms viability of low capital cost start-up operation

A prefeasibility study for the Coolgardie project confirmed the viability of a low capital cost start-up gold mining operation based on the extraction of shallow reserves across three initial starter pits.

Ore from the Tycho, MacPhersons and A-Cap pits will be processed via a toll treatment arrangement at a nearby facility.

The company also plans to undertake further reverse circulation grade control drilling in 2018.

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Primary Gold Timeline

January 31 2017

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