BLACK OAK MINERALS LTD 29 September 2015
- Delivery of gold to TrailStone achieved on schedule
- Gold production underway and building
Black Oak Minerals Ltd (ASX: BOK) has commenced production of gold from the Mt Boppy Mine with milling of the ore through its processing facility at nearby Manuka in the Cobar region of New South Wales.
Manuka
New South Wales
Commencement of production has enabled BOK to meet the first monthly Gold Facility repayment of 1500 ounces of gold to TrailStone slightly ahead of schedule. In addition BOK has received the proceeds from the balance of its production to date, selling a further 400 ounces at the current spot price of $A1632. As well as repaying part of the TrailStone debt, BOK received $A374 per ounce for the gold delivered to TrailStone.
The Mt Boppy gold project is expected to deliver a total of 65,000 ounces of gold over an 18 month period. Mining continues to schedule.
Figure 1 - Mt Boppy Mine
ASX: BOK T: +61 7 3236 2511 E: admin@blackoakminerals.com.au W: www.blackoakminerals.com.au
GPO Box 519 Brisbane QLD 4001
Black Oak Minerals Limited ASX Announcement - 29 September 2015
Production Targets and Forecast Financial Information
The information in this announcement that relates to production targets and forecast financial information is extracted from previous market announcements as listed below.
Announcement - 'Mt Boppy Feasibility Study Results' released by Polymetals Mining Limited (ASX:PLY) on 29 January 2013; available to view on www.asx.com.au.
The Company confirms that all material assumptions underpinning the production targets, and forecast financial information derived from the production targets, in the relevant market announcements shown above continue to apply and have not materially changed.
For further information contact:
David Kinsman, Chief Financial Officer and Company Secretary, Black Oak Minerals Limited Telephone: +61 7 32362511, email admin@blackoakminerals.com.au
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