Lower production from the Bonte alluvial gold mine in Ghana will cut third-quarter revenue and earnings for
Third-quarter production from Bonte, targeted at 19,000 oz., was only 15,926 oz., owing to recovery problems. High-grade alluvial zones mined in the period proved to have much finer gold grains than expected, and the main sluice recovery system did not trap them. Faced with the recovery problems, Akrokeri moved the mining over to lower-grade terrace zones, where the gold was coarser.
The gravity systems commonly used in alluvial mining frequently cannot recover finer material.
Akrokeri leased several small Knelson gravity concentrators to supplement recoveries from the sluice system. Larger, permanent concentrators are to be installed in December.
Akrokeri says revenue was US$819,000 lower than expected, and it will post a loss for the quarter. It does not expect to have trouble paying its bills; however, a Peruvian exploration project has been put on hold in order to preserve cash.
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