GOLD MINE FOR SALE
BEATRICE AREA
Selling a medium-large scale mine in Beatrice, with 26 Blocks on 252ha. It has 4 commercially developed shafts ore grades ranging from 4g-11g/t, belt of minimum $2m.
This is a gold mining project where all operations from underground ore production to extraction of gold from the ore are carried out using environment-friendly means. The project is located in a farming area and aims to maximize on synergies obtainable from de-watering underground shafts to provide water for irrigation, share infrastructure in respect of roads, communications, transport, social amenities of housing, health, recreation and religion. The local farming community has long expressed anxiety about benefitting from mining operations in the area as they envisage infrastructural development, employment of locals, relocation opportunities where necessary or possible. Operational and financial plans will need to take cognizance of this as well as a reasonable CSR budget that will gender stable, peaceful coexistence with the farmers. As the mining method involves underground operations, there is minimum interference with surface rights of farmers in over 80% of the tenement sites. However, centralized comminution and metallurgical processes will take up the bulk of the surface area as already provided for in approved Siting of Works Plans. The 26 tenements will need to be rationalized into one mining lease as a top priority. The thrust of the project is to attain maximum return on investment within 12 months of operations after a resource mobilization and structural adjustment period of 3 months.
PROJECT BACKGROUND & INVESTMENT OPPORTUNITY Mining Activity & Potential:
There are four fully developed shafts with 3 – 6 levels which were all in full production and development in the year 2000 just before operations were abruptly stopped during the land reform programme. Three of these shafts have not been worked on since 2000.
INVESTMENT OPPORTUNITY:
This asset requires substantial funding to realize the production potential that has profitable returns. Whilst all records about the Mine were seemingly removed from the Department of Geological Survey, some historical data indicates that the mine was producing in excess of 80 kg of gold annually at the time of disruption of operations.
An outright purchase for a value of at least $2 million
The shafts are as follows
MAIN SHAFT
Has 6 levels each level approximately 32m apart from each other, 3 phase zesa connected, head gear, 3 Coco puns, hoist, pressure tank and compressor, 40 hose power and 17,5 hp pumps connected, secondary and primary crusher, bowmill, reserve tank for water, , ladders connected to 6 the level, 10 mobile zinc tanks for leaching, 5 corolsel tanks, jack hammer, CIP plant at foundation level, dumb of 500 tonnes, and pure belt ore of 150 tonnes, This shaft is ready for operation only need cash injection, yield ranges from 3- 25g per tonne depending on levels, approximate life span 60 yrs and can go upto 60 levels.
ROSEMARY SHAFT
This shaft drop to 6 levels, with newly constructed 5 tanks of 50 000 litres each, delapidating head gear room which need renovations and roofing, 1 cement reserve tank for water, big ore bin, dump of about 10 000 tonnes - no cynidation done, zesa connected but no transformer, there is a big area for slime dam, yield for this shaft is 6-30g per tonne and life span is upto 70 yrs
DRP SHAFT
This shaft is not developed much, drops upto 4 levels, has 6 000 tonne dump, zesa is connected but there is no transformer. There are several farm rooms donated by the community to be renovated into workers houses and some water reservoir that need attention. The yield is 3-25g depending on level and can last upto 80 years
ROMA SHAFT
There are 2 shafts at this sight, the main shaft is condemned and drop to level 21. A new sub shaft was opened and drop to level 4 and has an accumulation dump of 20 000 tonnes, zesa is available with transformer and farm rooms that can be renovated for workers. Very little work has been done on this shaft. Life span is more approximately more than 80 yrs.
POTENTIAL FOR OPENING NEW SHAFT
There is potential to open new sites since the mine rights spread over 252h with 26 blocks.
Rights
The mine has mostly underground rights and a minimal surface rights. Surface rights are mainly owned by communal farmers and there is currently a good relationship with the farming community.
JOINT VENTURE
A minimum capital injection of $1.5 million in return for a 55% equity. Of the $1.5 million,
$
show me will pay off shares belonging to some of the current shareholders whilst the
balance is applied towards working capital , geological
exploration and core drilling to obtain ore reserves and life of mine. Any additional
capital injection into exploration and working capital by the JV partner will go towards
securing additional equity.
FOR VIEWING, ASSET REGISTER, GEO REPORT AND CASH FLOW PROJECTIONS CALL any one of our agents.
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