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Kin Mining commences construction of 55,000 ounces per annum gold mine at Leonora

The company expects to be producing at a rate of 55,000 ounces per annum by December.

Picture of mine site at Leonora project
Defining and increasing the Kyte resource can increase project economics

Kin Mining NL (ASX:KIN) has commenced construction at its Leonora gold project in Western Australia.

This is in preparation for the company’s move to first production December 2018.

Having completed its definitive feasibility study, the company’s forecasting an average production rate of 55,000 ounces per annum.

Exploration continues in tandem with construction

Kin is looking to build on its resource of about 1 million ounces which includes a reserve of 373,000 ounces.

Drilling has commenced at the group’s Kyte orebody to extend on its indicated resource of 21,000 ounces of gold.

Improving Kyte should increase project economics

Defining and increasing the mineralisation at Kyte aims to enhance the project economics and, in turn, provide the opportunity for early payback of the debt facility.

Increasing the resource at Kyte will also provide greater flexibility within the mine plan.

Quick facts: Kin Mining NL

Price: 0.205 AUD

Market: ASX
Market Cap: $143.5 m

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