Kimberley Metals Limited Update On Mineral Hill Mine Copper Concentrate Sales
18.07.2011 | ABN Newswire
09:41 AEST July 18, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Kimberley Metals Limited (ASX: KBL) is pleased to announce that after receiving expressions of interest from a number of parties for copper concentrate offtake from the Company\'s Mineral Hill Mine, Kimberley Metals is currently finalising an initial 6 months sales agreement. The Company is being assisted in this process by Penfold Limited.
The production and sale of Mineral Hill Mine copper concentrate will reflect Kimberley Metal\'s elevation to production status with forecast cash flows from the Parkers Hill underground mining operations from August 2011.
The Pearse open cut mine at Mineral Hill is expected to enter production from mid-2012, which will add substantial revenue through gold and silver bullion sales to Kimberley Metal\'s Mineral Hill mining operations.
Kimberley Metals believes that the ongoing successful commissioning of Mineral Hill Mine and the pending Sales Agreement demonstrate management\'s ability to successfully develop projects. The confidence and experience developed at Mineral Hill Mine will be positive for the development of the world class Sorby Hills Silver Lead project in 2013.
About Kimberley Metals Limited:
Kimberley Metals Limited (ASX: KBL) is an Australia-based company and primarily involved in mineral exploration and resource investment. The Company's operations include Mineral Hill Mine, Pearse Gold Project, Parkers Hill, Sorby Hills Project and Constance Range Iron Ore Project.
Contact:
Jim Wall
Executive Chairman
Kimberley Metals Limited
Tel: +61-2-9927-2005
http://www.kimberleymetals.com.au