Friday, March 31, 2006 NEWMONT MINING CORP and YUKON-NEVADA GOLD CORP. Queenstake has won a vote of confidence from Nevada neighbor Newmont in the form of a US$10 million private placement and additional ore and concentrate supplies that, ultimately, may improve Queenstake's financial picture, writes Mineweb. Denver-based Queenstake's contract with Newmont calls for the purchase of at least 500,000 tons per year over two years. These may continue for up to three more years if Queenstake has the spare processing capacity. The purchase will increase the Jerritt Canyon mill throughput to 95% of its estimated capacity of 1.5 million tons annually.
(See Mineweb:
Newmont bets on neighbor Queenstake) Property: JERRITT CANYON MINE (Complete Text - News Release) PDF
SPECIAL EDITIONS
Copyright 1990 - 2009 InfoMine Inc. Developed and maintained by InfoMine Inc.
Friday, March 31, 2006
)
