PRESS RELEASE – 19 November 2013
Acquisition of Ball Mill For West Omai Project
Highlights
- Purchase of a 3.2 MW unused grinding mill for the West Omai gold project for a price substantially below replacement cost.
- The mill package includes all electrics, ancillary equipment and peripheral parts to operate as well as structural steel and platforms, and substantial spare parts.
- Mill to support an expected initial plant throughput rate of greater than 600,000tpa (subject to favourable study results).
- Expected delivery into Guyana in second quarter calendar 2014.
Perth, Western Australia: Gold producer Troy Resources Limited (ASX, TSX: TRY) is pleased to announce that it has entered into an agreement to acquire a 3.2 MW grinding mill, electrics and ancillary equipment for the West Omai gold project in Guyana.
Commenting on the announcement, Troy’s CEO Paul Benson said: “We are extremely pleased to have been able to acquire this long lead time item for the West Omai Project. Troy has established a track record over the years of building mines quickly and at low cost by utilising second hand equipment where appropriate. Although currently installed at a mine site in North America, the mill has never been used and is in excellent condition.
The mill acquisition enables us to finalise the detailed engineering of the remainder of the processing facility. The design concept is based on a staged development of the project to minimise risk and capital requirements, whilst retaining flexibility to increase processing rates over time. This initial stage would (subject to favourable study results) see throughput in excess of 600,000tpa. Required crushing equipment has also been identified and is expected that these will be acquired over the next six months.
We remain on track to complete the project Scoping Study in December and Pre-Feasibility Study in the first half of calendar 2014.”
