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Activities Report for Quarter Ended 30 June 2021 | INN

Highlights Final investment decision (FID) made to complete full development of Abra Mine, with first production scheduled for Q1 CY2023 Cash balance as at Quarter-end A$96.2M following final A$40M investment tranche received from Abra Joint Venture partner, Toho Zinc of Japan, and first US$30M drawn under the Taurus Project Debt Facilities Early stage / enabling …

Highlights

  • Final investment decision (FID) made to complete full development of Abra Mine, with first production scheduled for Q1 CY2023
  • Cash balance as at Quarter-end A$96.2M following final A$40M investment tranche received from Abra Joint Venture partner, Toho Zinc of Japan, and first US$30M drawn under the Taurus Project Debt Facilities
  • Early stage / enabling construction works continued during the Quarter with a further 2% of the Project being completed, taking cumulative Project completion to 17%
  • Achievement of 2020 Abra drilling objectives announced together with updated Mineral Resource estimate
  • Managing Director role transitioned to Mr Tony James, a Mining Engineer with considerable project development and operational experience in Western Australia

GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) reports on its activities for the quarter ending 30 June 2021 (the “Quarter”), largely focused on advancing its 60%-owned Abra Base Metals Project (“Abra” or the “Project”) located in the Gascoyne region of Western Australia.

Click here for the full press release

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