Cabral Gold Completes First Gold Pour at the Phase 1 Mine in the Cuiu Cuiu Mine in Brazil
Cabral Gold (CBR.V) completed the first gold pour at its Phase 1 Cuiu Cuiu mine in Brazil, producing approximately 1,130 ounces of gold, it said Thursday.The company has completed commissioning of the dry circuit at the mine and commissioning of the wet circuit is now nearing completion, it said.The company is now focused on ramping up mining and ore stacking operations at Cuiu Cuiu, targeting a stacking rate of 3,000 tonnes per day and commercial production by the end of 2026, added Cabral Gold."The completed Phase 1 operation includes several low-cost, readily available expansion opportunities that we are assessing," said John Sestan, vice-president, project development. "It also provides an operating base, along with valuable local project development and construction experience, that should simplify and de-risk the planned expansion into the significant hard rock Phase 2 component of our development strategy."The company's shares were last seen up CA$0.07, or 4.7%, to CA$1.56 on the TSX Venture Exchange.Price: $1.55, Change: $+0.07, Percent Change: +4.73%
