- Ausmex Mining Group’s (AMG) Golden Mile mining lease application is in its final stages
- The Queensland Mines Department is progressing the lease, with final submissions from the public due in April
- The application only covers mining, as the company has an agreement to process Golden Mile’s ore at the Great Australia processing facility
- On market close, Ausmex is up 31 per cent and is trading at 3.8¢ apiece
Ausmex Mining Group’s (AMG) Golden Mile mining lease application is in the final stages.
Currently, the Queensland Mines Department is progressing the lease, with final submissions from the public due by April 24.
The application only covers mining, however, as the company has an agreement to process Golden Mile’s ore at the Great Australia processing facility in Cloncurry.
Golden Mile is located on the Mt Freda Complex in Queensland.
Ausmex is also in the final stages of a JORC resource estimate for the Mt Freda Complex, which is to be completed by April.
It is expected that the company will commence a Mine Scoping Study for the Mt Freda Open Cut, ML2752, in April and is aiming to submit a plan of operation to recommence open-cut mining by June.
The combination of the Golden Mile application and the current Mt Freda Mining Leases provides the potential for the company to schedule the development of a multi-pit mining hub facility within close distance of Cloncurry’s CIP processing facilities.
On market close, Ausmex is up 31 per cent and is trading at 3.8¢ apiece.