6.4 C
London
Tuesday, November 29, 2022

Activities Report for Quarter Ended 30 June 2021

Highlights

  • Final investment decision (FID) made to complete full development of Abra Mine, with first production scheduled for Q1 CY2023
  • Cash balance as at Quarter-end A$96.2M following final A$40M investment tranche received from Abra Joint Venture partner, Toho Zinc of Japan, and first US$30M drawn under the Taurus Project Debt Facilities
  • Early stage / enabling construction works continued during the Quarter with a further 2% of the Project being completed, taking cumulative Project completion to 17%
  • Achievement of 2020 Abra drilling objectives announced together with updated Mineral Resource estimate
  • Managing Director role transitioned to Mr Tony James, a Mining Engineer with considerable project development and operational experience in Western Australia

GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) reports on its activities for the quarter ending 30 June 2021 (the “Quarter”), largely focused on advancing its 60%-owned Abra Base Metals Project (“Abra” or the “Project”) located in the Gascoyne region of Western Australia.

Click here for the full press release

The post Activities Report for Quarter Ended 30 June 2021 appeared first on Investing News Network.

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