Coronet Metals Inc. reported the first gold pour at its Liberty Processing Facility in Nevada.
Commissioning of the custom circuit, which process gold concentrates on a toll basis, started at the beginning of October 2013. The Merrill Crowe circuit, required for the extraction of gold from pregnant leach solution (PLS) in the leach tanks, is in final stages of commissioning. Coronet expects to achieve commercial operations in December 2013 once the entire circuit is operational and operating as intended by management.
Mr. Theo van der Linde, President and CFO of Coronet states: "This first gold pour at Liberty is a major milestone on Coronet’s path to becoming a profitable gold producer. Over the coming months, the operations team at Liberty will be ramping the facility up to full initial capacity while seeking to secure additional supply contracts to support expansion within the existing permits. As production rates increase, Coronet expects Liberty to produce strong cash flow that will support organic growth for the company".
About Coronet Metals Inc.
Coronet Metals Inc. objective is to become a gold development and production company. The management team has experience in all aspects of the development and financing of resource projects in North and South America. Coronet owns the Yanamina Gold Project in Peru, the White Caps Gold Mining, Company Inc. Gold Project in Nevada and the Liberty Precious Metals Testing and Processing Facility in Nevada.
This news release contains certain forward‐looking statements about operations and finance, and such statements involve risks and uncertainties. The results or events predicted may differ materially from actual results or events. Any forward‐looking statement speaks only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward‐looking statement, whether as a result of new information, future events or results, or any other occurrence.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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