Classic Minerals: WA’s newest gold miner – 1st gold bar imminent!
Classic Minerals CEO Dean Goodwin on 6PR Bulls N' Bears Report
Listen to ASX-listed Classic Minerals CEO Dean Goodwin talk to Matt Birney on the Bulls N’ Bears Report about Classic’s remarkably cost-effective modular gold plant and the company’s plan to churn out its first ever gold bar within a month.
TO LISTEN TO THE CLASSIC MINERALS AUDIO INTERVIEW - CLICK BELOW
Classic Minerals is a gold explorer with two key projects in WA’s Goldfields region around Southern Cross - the Forrestania and Kat Gap gold projects. Over the last year or so Classic has been busy installing a curious and unusually cost-efficient modular gold plant at Kat Gap and recently made that very difficult leap from explorer to WA’s next gold miner after producing the very first gold concentrate out of Kat Gap courtesy of the new Gekko modular plant.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by Classic Minerals
Matt Birney - ASX code: CLZ
Matt Birney - I'm Matt Birney and I'm joined now by the CEO of Classic Minerals, Dean Goodwin.
Matt Birney - Hi Dean
Dean Goodwin - Hi Matt, how are you going?
Matt Birney - I'm good. Okay so Classic Minerals is a gold explorer with two key projects in WA’s Goldfields region around the Southern Cross area - the Forrestania and the Kat Gap gold projects.
Matt Birney - Over the last year or so Classic has been busy installing a curious and unusually cost-efficient modular gold plant at Kat Gap and the company is about to make that very difficult leap from explorer to WA’s next gold miner after producing the very first gold concentrate out of Kat Gap, courtesy of the new Gekko modular plant.
Matt Birney - Okay Dean we'll talk production in a minute but firstly tell me about this Gekko modular plant. How is it different? How much did it cost and how many tonnes a year could it potentially put through?
Dean Goodwin - Yeah it's different because it's designed to capture gravity gold, which we have a very high concentration of gravity gold at Kat Gap, around seventy per cent, seventy five percent is gravity.
Dean Goodwin - The plant was around four million bucks to purchase and it has a throughput in the order of 200,000 tonnes per annum.
Matt Birney - Okay so you've just produced the very first gold concentrate I think from a bulk sample. How many tonnes and at what grade did you put through up front?
Dean Goodwin - Yeah so the bulk sample we mined that last year six and a half thousand tonnes at 4.8 for about a thousand ounces we pulled out of the ground.
Dean Goodwin - Last year we did a pilot run here in Perth, small parcel of that material and that came back around six, so we're anticipating some pretty good grade.
Dean Goodwin - Out of that bulk sample we have observed the butchart table produced a concentrate at Kat Gap last week and what we're seeing across the table looks a lot better than what we saw from the pilot run last year.
Matt Birney - What's the size of the resource at Kat Gap now?
Dean Goodwin - So we took in 1.2 million tonnes at 2.2 for about 80 odd thousand ounces.
Matt Birney - And is it closed off now or can you still extend that resource?
Dean Goodwin - Oh no it's still going at depth and it's still a long strike to the south so we've got a lot more work to do to extend that resource.
Matt Birney - How close to surface?
Dean Goodwin - It comes within eight meters
Matt Birney - Okay and do you have any other gold resources in the region that could potentially be processed using that same facility?
Dean Goodwin - Yeah absolutely we've got 300,000 ounces up the road at Forrestania so we had Lady Ada and Lady Magdalene, 59,000 ounces and 200 odd thousand ounces coming out of those two deposits.
Dean Goodwin - They are indicated and inferred.
Matt Birney - Okay quick question and answer. When do you think you'll turn that concentrate into Classic's very first gold bar?
Dean Goodwin - Well yes it's very exciting at the moment, we're anticipating the first bar in the next week or so.
Matt Birney - Dean Goodwin from Classic Minerals.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears
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