Galena Mining Ltd

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: $0.36

Market: ASX
Market Cap: $131.23 m

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Galena Mining moves Abra Base Metals Project into development phase after...

Galena Mining Ltd (ASX:G1A) managing director Alexander Molyneux updates Proactive Investors on the company’s development work at its Abra Base Metals Project in Western Australia.   Molyneux said the definitive feasibility study for the lead and silver project was on track for...

on 2/5/19

2 min read