Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: TSX-V
Sector: Gold Mining
Epic: TSX-V:RML
News: Latest news
Web Site: Rusoro Mining
Other Articles: 10-03-200905-01-200915-12-2008

RSS - Subscribe to the News Today on Proactive UK ▼

Wednesday March 17, 09:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Wednesday March 17, 06:53SocGen "moderately bullish" on commodities in a two-speed world

Moderately bullish on commodities as a whole for the year, Société Générale asserts that prices are likely to vary considerably from metal to metal with a strong emphasis on developing economies still a major theme.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

FULL ARTICLE ►
Rusoro Mining

Rusoro Mining

Rusoro Mining is a junior gold producer, with a large land position in the prolific Bolivar State mining region in southern Venezuela.
Wednesday, May 20, 2009

Rusoro Mining's Choro 10 Gold Mine could produce 500,000 ounces per annum

company news image

 

Author: Dorothy Kosich, Mineweb.net

A preliminary study of Rusoro Mining's Choco 10 gold mine reveals a possibility to increase gold production to 500,000 ounces annually over a 12-year mine life.

The scoping study by Micon International evaluated the potential for expansion of Choco 10 by the end of 2012.

The study estimated a life-of-mine cash cost estimated of US$331/oz and an expansion cost of $208.5 million plus contingencies of $30.8 million and sustaining capital of $80.3 million over the life of the mine.

Rusoro bought Choco 10 from Gold Fields in November on 2007. In the study, Choco 10 and the nearby Increible 6 deposits were designed as open-pit mines with a two-year construction phase.

With the current resource base of the two projects, the anticipated life of the expanded mine is 12 years with an optimal mill throughput of 20,000 tpd. Gold production would average 558,200 ounces a year after the expansion.

The study base case valuation assumes a constant gold price of $700/oz over the full life of the project.

In a statement, Andre Agapov, the CEO of Rusoro, said, "The production levels estimated in this study would place the expanded Choco-10 - Increible 6 in a category within the top 25 gold producing mines worldwide."

George Salamis, Rusoro's president, said, "We have an aggressive plan to move the Choco 10 expansion to production by the end of 2012. During the next nine months we will be focused on completing the Definitive Feasibility Study, optimizing the capital program and will be seeking the necessary permits for this four-fold production expansion."

Mineweb is a web-based international mining publication focusing on mining financial and corporate news and comment.

 

AddThis Feed Button
Register here to be notified of future Rusoro Mining articles.

Other Rusoro Mining articles


Other Rusoro Mining news

More news ►

Investors interested in Rusoro Mining recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.