West Perth, WA / April 3, 2018 / JMN Wire / Dacian Gold Ltd (ASX: DCN) (Dacian Gold or the Company) is pleased to report that the first bar of gold was poured at its 100%‐owned Mt Morgans Gold Project in WA on March 29th, 2018.
This key milestone was achieved following a rapid and successful 11‐month construction period in which the project construction was completed on time and on budget.
“The attributes which have enabled us to arrive at this very significant occasion are the same attributes that will drive our ramp‐up and ongoing growth strategy,” Mr Williams said.
“We started work at Mt Morgans a little over five years ago with several exploration concepts that we tested once we completed our IPO. What has been achieved in that time from discovery, including the drill‐out, feasibility studies, financing, permitting and now completion of a major A$200 million project build on time and on budget is an amazing effort by a very talented and hard‐working group of employees, consultants and contractors.
- Construction of new A$200m gold mine completed on time and on budget
- Production ramp‐up underway, targeting 180,000‐210,000oz in FY2019
- Financial position for ramp‐up phase strengthened with 45,000oz hedged through CY2018 at A$1,727/oz
- Mineral Resource and Ore Reserve updates in progress, including maiden Ore Reserve for Cameron Well