Thursday, July 05, 2012 -
Gold explorer and producer Central Asia Resources (CAR) said Thursday it sees sales and revenues of the precious metal doubling on full construction its second heap leach pad at its mine in southeast Kazakhstan.
The Australian miner expects to make around $3 million per month at its Dalabai Gold Project, situated northeast of the city of Almaty. The firm currently makes $1.5 million a month at the plant.
Heap leaching is an industrial mining process that works by using chemical solutions to extract, or leach, precious metals from large heaps of crushed rock laid on liners.
The company says it will double gold output from 1,000 ounces to 2,000 ounces with operation of two heap leach pads.
The second one is scheduled for completion in November 2012.
CAR will fund its construction with around $800,000 from cash flow, the Proactiveinvestors.com news web site reported the company as saying.
Last month, CAR announced that it signed agreement with Kazakh gold producer Altynamas to process the ore produced at its Altyntas, Kengir and Kepken deposits.
Altyntas in the largest gold mine in Central Asia with an estimated 600,000 ounces of the yellow metal.