Polymetals Mining Limited has been successfully operating for
more than 25 years and has a strong reputation as a small dynamic
mining business engaged in the near-mine exploration, development,
operation and production of precious and base metals.
The company has projects in varying stages of production and
development across Australia including the White
Dam gold joint venture in South Australia and
the Mt Boppy gold
development in New South Wales.
Polymetals has an experienced senior management team with a
proven track record of delivering projects.
CURRENT PROJECTS
The
White Dam Project (developed and managed
by Polymetals, 50% Polymetals equity) is an unincorporated
Joint Venture between Polymetals and Exco Resources Limited
(ASX: EXS).
Open cut mining, ore extraction and stacking commenced
at the White Dam Mine in January 2010.
The project entails dump leaching of over 5Mt of ore to
produce 115k oz of gold (forecast) over a three year period.
Leaching commenced in March 2010 with first gold poured
in April 2010. Over 68k oz have been produced to date
(February 2011) and the project has fully repaid its loan
facility.
Mount
Boppy – drilling has shown sufficient
resources to further extend the historical workings gold operation.
The company plans to add to the Gold inventory of 560kt @5.14g/t
by delineating additional high grade ore sources prior to
re-commencing mining. Drilling commenced in February 2011.
COMPLETED
PROJECTS
Hellyer
Joint Venture – the project commenced
in November 2006, with the pre-production costs funded
by Polymetals. From start of construction to first production
took five months. The JV produced 91,000 t zinc-lead-silver
concentrate for sale into China. Polymetals withdrew from
the Hellyer joint venture in August 2008.
Mt
Boppy – the company mined and produced
67,855 oz of gold from 2002 to 2005.
Nimbus
– the company mined and produced 100 tonnes (3.2Moz)
of silver from 2004 to 2007.
FUTURE
PROJECTS
Polymetals has a pipeline of developments that are at feasibility
and concept stages. Additionally, Polymetals proven track record
as an operator/manager continually attracts potential partners
for joint venture opportunities. We invite potential partners
to contact us with project proposals.
