EXPLORATION & DEVELOPMENT

Deflector blasts into business

Doray Minerals begins open pit mining at Deflector

Sophie Moore

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The open pit mine has a measured gold resource of 2.6 million tonnes at 6.4 grams per tonne for 591,000 ounces of gold. Further exploration conducted should extend its current six year life expectancy.

Deflector is located 160km to the east of Geraldton and 430km from Doray’s other operation at Andy Well.

The company predicts that an on-site flotation processing plant will be completed by May.

Doray is forecasting a combined total production from its operating WA mines of 140,000 ounces per annum at an all-in sustaining cost of less than $A1000 an ounce. 

The company had previously secured $65 million from Westpac to fund construction and development of Deflector. Debt repayments are next due after the mine goes into production, in September 2016.

Managing director Allan Kelly said the commencement of open pit mining came less than a year after completing the takeover of Mutiny Gold in March 2015. 

“We are very excited to have officially commenced mining operations at Deflector, our second high-grade WA gold operation, and look forward to bringing production online over the coming months,” Kelly said.

Doray’s shares opened 4.3% higher at 73c. Today marks six years since the company listed on the ASX.

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