Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Abra Cash Flow Positive

by August 11, 2023
August 11, 2023
Abra Cash Flow Positive

GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) advises that in July Abra achieved its first positive monthly cash flows as it continues to ramp-up to steady state production. Subject to end of month reconciliation the following has been achieved in July:

Concentrate shipment of 9,254t generating approximately A$17.0 million revenue.Processing plant milled over 105kt.New mining monthly records with total ore and waste 144kt (high grade ore 100kt including 70kt from stope production).Mining and processing plans reaffirmed for remainder of 2023, with September quarter set to generate between 25-30kt concentrate for estimated A$50-60 million revenue and positive operating cash flows.

Managing Director, Tony James commented, “Abra has always had a target of reaching positive cash flows in the second half of 2023 following commissioning and ramp-up in the first six months of the year. Looking forward at our mining and processing plans for the remainder of 2023 we have over 90% of the ore planned to be mined drilled out to a 12m x 12m spacing.”

Ramp-up and infrastructure installation continued during the month. The installation of the second primary ventilation fans (Figure 2) is in line with project planning and will service the expanding underground production profile and increasing work areas.

As infrastructure has been put in place to allow expansion of ore production, underground contractor Byrnecut have mobilised additional equipment and manning resources to planned levels to achieve steady state production. Areas currently being accessed, and future plans are shown in Figures 3,4,5 below.

Click here for the full ASX Release


This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
DJIA/Gold Ratio vs. Consumer Sentiment
next post
Bradda Head Lithium Limited

Related Posts

Integrated Cyber Solutions Embarks on a New Journey...

October 11, 2023

Skyharbour Closes $6.37 Million Private Placement of Flow-Through...

December 19, 2023

10 Largest Producers of Gold by Country

January 24, 2024

Westgold Strategic Alliance and Placement

May 31, 2024

5 Top Weekly TSXV Stocks: Maritime Resources Leads...

August 21, 2023

Vincent Chen Joins Lancaster Resources Board of Directors,...

May 11, 2024

Hertz Lithium Acquires Option to Acquire Patriota Lithium...

August 16, 2023

Crypto Market Recap: CFTC to Hold Crypto Industry...

February 10, 2025

Copper Prices Break US$10,000 as Supply Concerns Mount

May 11, 2024

More High Grade with up to 60% Heavy...

June 27, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • CHARBONE signe une entente d’approvisionnement en hydrogene propre a UHP d’une duree de 5 ans en Ontario, marquant une etape majeure dans son expansion commerciale

    • CHARBONE Signs Five-Year Clean UHP Hydrogen Supply Agreement in Ontario, Marking a Major Milestone in its Commercial Expansion

    • Copper Quest Amends RIP Cu-Mo Option Agreement and Provides Project Update

    • Skyharbour’s Partner North Shore Uranium Completes Prospecting Program at the Falcon Project; Significant Radioactivity Discovered in Outcrops and Boulders

    • Spartan Metals Appoints of Rebecca Ball as Vice President, Exploration

    Categories

    • Business (1,398)
    • Investing (3,024)
    • Politics (3,699)
    • Stocks (1,819)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved