Positive Nicaragua Orosi Mine feasibility study
Central Sun Mining Inc. reported results of a feasibility study on the Orosi Mine located in Nicaragua, including economic forecasts and independently prepared Mineral Resource and Mineral Reserve estimates.
Friday, May 9, 2008
The Company is currently converting the Orosi Mine from a heap leach operation to a conventional milling operation. The Feasibility Study was commissioned by Scott Wilson Roscoe Postle Associates Inc. and all figures are as at January 31, 2008; the date the models were run and calculated.
Central Sun Mining has stopped work on its Orosi gold mine in Nicaragua after the fail of $22 million in financing.
Mineros SA has bought 90% of the shares of the Bonanza mine from the company Hemco, for an amount that has not been disclosed.
B2Gold Corp. made the acquisition from Central Sun Mining, owner of the gold mines in Nicaragua, for $53.7 million.
Radius Gold will invest $4.5 million in gold extraction at its Holly-Banderas mine, in southeast Guatemala.
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