St Andrew still has to provide financial assurance bonding to cover reclamation and closure liabilities on Aquarius, but has completed its due-diligence investigations.
The company plans to integrate an open-pit mine and 7,500-tonne-per-day mill at Aquarius with its Stock Twp. gold mill, about 15 km away, and two smaller-tonnage underground deposits, Clavos and Taylor, which would feed the Stock mill.
Kinross’s reserve figure on Aquarius is 15 million tonnes grading 2.16 grams gold per tonne. Those reserves were based on a gold price of US$325 per oz. and on earlier feasibility studies.
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