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Tombola on track for Golden pours

1 February 2023 12:33
ASX: TBA

In spite of a slight delay, Tombola Gold remains on track to soon become a significant Australian gold producer in 2023.

With the company planning to process 90 thousand tonnes of gold through the GAM facility, pours were set to begin in late December, but a fault with the crusher at the GAM plant caused a brief hold-up.

While the issue with the crusher circuit was outside of the company’s control, it wasted no time getting production back on track with the team working tirelessly throughout the holidays to secure a new crusher — now en route to the plant.

Despite the delay, Tombola was able to reach a major milestone in gold production and have already brought in 500 thousand dollars through an agreement with Ilwella for the pre-sale of the first 200 ounces of gold produced.

Mining operations are proceeding at the company’s operating Comstock and Shamrock mines, with first materials being delivered to the Mt Freda run of mine pad plant for crushing and processing, while further significant gold intercepts uncovered at Mt Scheelite further grows the company’s production potential.

Despite the delays, the company said it had continued to mark successes and is on pace to become a significant player in Australian gold production.

“Our efforts were hindered by a number of convergent factors, however, we are very pleased to have found a solution and look forward to recommencing operations shortly,” chairman and chief executive Byron Miles said.

“Tombola continued to achieve exploration success during the December Quarter, with significant gold intercepts delivered at the Mt Scheelite Gold Project, and we look forward to further advancing our exploration projects over the coming year.”

TBA’s Australian Stock Exchange-listed share price was trading at 2.6c today (9:25 am UTC+ 8 hours).

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