Golden Minerals poised for Rodeo ride

Golden Minerals plans to truck Rodeo material to its Velardena mill in Mexico Gold And Silver > Gold-and-silver-news

Staff reporter

The company plans to truck material 115km to its Velardena oxide plant, which is leased until November 30 to Hecla Mining.

President and CEO Warren Rehn said receipt of the permits put the company on schedule to start mining in January."We expect to begin delivering gold-bearing material to our Velardena mill early in January and begin processing immediately," he said.Initial capex was put at US$1.5 million for the nine-quarter Rodeo operation, and after-tax NPV8 at $22.5 million, according to an April preliminary economic assessment , which assumed a $1,622/oz gold price and $14.38 for silver.The company said it had updated its internal preliminary projections to apply to the PEA, assuming gold and silver prices of $1,887/oz and $23.73/oz respectively, and the results of the recently completed drilling programme , […]

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