After clutching more stakes in Plomosas mine, Consolidated Zinc Limited (ASX: CZL) today revealed the production made there in December 2018. The company has achieved ore production of 4,072 tonnes on the back of the advanced and greater number of equipment brought to the site. The news directly sent the shares to jump up by 5.556% in early morning trade today. Currently, CZL is trading at $0.019 (7 January 2019; 12:19 PM AEST).
The announcement read that the company has hauled 4,072 tonnes of ore to the surface during December 2018 which includes the 600 tonnes of ores lifted from Level 6 stopes. On the front of grade, Consolidated Zinc Limited declared 10.20% Zinc and 2.4% Lead. It outlines the substantial increase in the company’s production despite the reduction in staff and closure occurred during the Christmas and New Year season.
Currently, Consolidated Zinc Limited holds 90% interest in Plomosas Mine through an increased shareholding in the Minera Latin American Zinc SAPI CV(MLAZ). Whereas, its Mexican partner retains the remaining 10% interest in MLAZ. Plomosas is a zinc-lead-silver mine that is located in the northern state of Mexico, Chihuahua.
Following the December month production report, CZL’s year to date production statistics looks like 5,291 tonnes of mined ore at the grade of 9.96% zinc and 2.14% lead. The company further informed that the toll treatment at Santa Eulalia Concentrator had progressed well that led to the higher than expected recovery of metals achieved during December. It translates the recoveries of 86% lead and 89% Zinc on Plomosas ore campaigned or batched through the Santa Eulalia concentrator. Moreover, the company expects to pay the first batch of the invoice in the first half of January 2019 as it has already been prepared in December.
The company has also opened up two new stopes being 992SW and 992N during the reporting period. Both these stopes are reportedly developed in mineralization that falls outside of the JORC resources. CZL has also advanced the decline from Level 5 or 992m RL towards 972mRL where it intends to develop further five stopes for the delivery of 35,000 tonnes of ore. On Level 6, the company discovered that stoping area contains more than 3,000 tonnes of high-grade ore blasted but not mined.
With respect to January production outlook, the company anticipates to pull-off increased levels of production for there would be no halt as occurred during the end of year holiday season.
In the past 12 months to 7 January 2019, CZL has witnessed a positive performance change of 28.57%. Moreover, in the past six months, the stock has moved up as massively as 157.14%.
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.