Gold loses some luster after Trump’s decisive win
Gold’s slide is a marked turnaround for a commodity that had surged by more than 30% in the year leading up to the US vote.
Para Resources (TSXV: PBR) announced that it expects doré production to begin in early November at its Gold Road operation in Arizona, after the successful start of the mill and CIL plant at the site.
It took a while for Para to reach this milestone as the Mine Safety and Health Administration required the company to modify the operation’s secondary
As of October 20, run-of-mine stockpiles contained 5,100 mt at an average grade of 4.1 g/mt Au
However, Para reports that since the beginning of June 2019, when the new mine plan was put into effect, Gold Road completed 245 feet of raise and incline to build a new secondary escape route from the lowest levels of the mine, and over 1,000 feet of development to create new production faces, including an extension of the existing decline to the 950 level.
Following these works, the focus shifted towards mine production and starting up the mill.
“Mine production has rapidly increased in October and is expected to continue to increase as additional production phaces come online,” the Canadian miner said in a press brief. “The plant start-up plan is to run at an average of 227 tonnes per day, increasing to 454 mt/day (500 short tons per day) by the end of the year as plant staff and mine production is expected to increase.”
The Gold Road mine is located in Mohave county, 24 kilometres northeast of the Arizona-California-Nevada border.
The property consists of 112.74 hectares of 18 patented claims, four patented millsite claims totalling 8.08 hectares and 735.28 hectares of 91 unpatented claims.
