will be accessed via a twin ramp concept, with a Hanging Wall (HW) development drift which will be primarily for definition drilling and ventilation, and a main access ramp which will serve for main haulage and. The Mineral Reserve Estimate for the Pau-a-Pique Deposit was determined at a cut-off grade.40 g/t Au and is presented in Table.7. Oversight of Risk Management Review and discuss periodically the Companys risk philosophy and risk management policies. Contained metal figures may not add due to rounding.
The metals industry in general is intensely competitive and there is no assurance that, even if commercial quantities and qualities of metals are discovered, a market will exist for the profitable sale of such metals. . Obtain and review a report from the external auditor at least annually regarding: the external auditor's internal quality-control procedures; any material issues raised by the most recent internal quality-control review, or peer review, of the firm, or by any inquiry or investigation by governmental. Cornejo brings close to 20 years of experience in the mining sector including operations, mineral processing and project management. 1.0 Ga) Aguape belt, a foreland fold and thrust belt that overlies the Early Proterozoic and Middle Proterozoic terrains (Geraldes. Process Plant Opex During the first 26 months of operation, the processing plant will treat an average of 55,000 tonnes of ore per month; this average throughput will be primarily from the Lavrinha open pit and partially from the Pau-a-Pique underground. The financial model is based on a gold price of US1,300/oz. Any one or more of these factors or other risks could cause the Company not to realize the anticipated benefits of an acquisition of properties or companies, and could have a material adverse effect on the Companys financial condition.
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Operations - Ernesto/Pau-a-Pique Project
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The Pau-a-Pique underground deposit is located approximately 47 km south of the Ernesto and Lavrinha deposits and process plant. Plant and Tailings Capex The gold processing plant was commissioned in 2012 which includes a state-of-the-art distributed control system and all associated instrumentation with all components currently fully functional. The combined Mineral Resource Estimate for the Project is presented in Table.4. Muscovite schist is developed in the contact between the metatonalites and metasediments and is an important host of mineralization. Review and discuss with Management and the external auditor at least annually significant financial reporting issues and judgments made in connection with the preparation of the Company's financial statements, including any significant changes in the Company's selection or application of accounting principles, any major issues. The cost model assumes some closure-related expenditures during the operating period for studies and closure plan updates, as well as for decommissioning of completed mine areas such as the Pau-a-Pique underground workings. The Ernesto Deposit will be mined by a Drift and Fill method, using a combination of drifting in ore and transverse primary and secondary stopes. Prior to joining Aura,. Gold mineralization is located along quartz boudins in highly sericitized rock and plunges to the north. Apoena has a contract with Brinks - Segurança e Transporte de Valores Ltda. Review the activities, organizational structure and effectiveness of the internal audit personnel. Table.10 Capital Expenditure for Mining LOM at Ernesto Capital Expenditure Total LOM USM Capital Development Direct Cost.68 Indirects (Equipment, Labour, Other).28 Total capex.97 A closure cost for the Ernesto underground mine has been included in the consolidated financial model and was.
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