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Galena Mining optimising PFS to reflect evolved economics of Abra; on track with DFS

Galena Mining Ltd (ASX:G1A) managing director Alex Molyneux speaks to Proactive Investors about the recent resource and reserve update on the Abra Base Metals Project, new mine model, and progress with permitting and financing.

"At our throughput rate for Abra, we're basically talking about the potential for an extra year of mine life. In addition to that, the grades of the material in the mine model have gone up, so there's 6% more lead and 20% more silver in terms of the feed grades going through, and so there's great potential for an increased revenue and margins in comparison to the data that was used to form the PFS back in September. And that model has also calculated a new reserve of 10.3 million tonnes at 8.8% lead; that's a 9% increase," says Molyneux.

Quick facts: Galena Mining Ltd

Price: 0.32 AUD

Market: ASX
Market Cap: $123.35 m

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Full interview: Galena Mining ramps up surface infrastructure development at...

Galena Mining Ltd (ASX:G1A) managing director Alex Molyneux updates Proactive on increased surface infrastructure development activities at the Abra Base Metals Project in the Gascoyne region of WA. This forms part of a $15 million development works program. The work is being done prior to...

on 10/10/19

2 min read