Tiger Resources Ltd. September 2014 Quarterly Activities Report
21.10.2014 | ABN Newswire
Perth, Australia (ABN Newswire) - Tiger Resources Ltd. (ASX:TGS) announce the first copper cathode was produced on 25 May 2014 after completing construction of the solvent extraction electro-winning (SXEW) plant at Kipoi. The annual nameplate production rate of 25,000 tonnes of copper cathode was reached and sustained for the month of September. For the quarter, the SXEW plant produced 5,620 tonnes of copper cathode.The SXEW plant was officially opened on 11 October by the DRC Minister of Mines, with the Deputy Governor of Katanga Province and the Australian Ambassador to the DRC in attendance.
The strong performance in September quarter is very encouraging and with the operation to benefit from higher grades in the coming months, coupled with operational stability and optimisation, Tiger is comfortable reaffirming 2014 production guidance of 14,000 tonnes cathode.
Highlights
Kipoi SXEW plant achieves nameplate production levels in 11 weeks
- Kipoi SXEW plant officially opened by the DRC Minister of Mines on 11 October
- SXEW plant achieves nameplate annual capacity in September
- 5,620 tonnes of copper cathode produced for the quarter
- 2014 production guidance maintained at 14,000 tonnes of copper cathode
Corporate
- Agreement reached with Gecamines for Tiger to acquire its 40% interest in the Kipoi project for US$111m on August 28. Tiger completed the acquisition post quarter end on 17 October
- US$50m in bridging finance provided by Taurus Mining Finance Fund and A$73.4m equity raising completed to fund the acquisition of Gecamines interest in Kipoi
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TGS-695637.pdf
About Tiger Resources Limited:
Tiger Resources Ltd. (ASX:TGS) has established itself as a producing copper/cobalt company with excellent growth potential after making the transition from an explorer. We have a highly-rated portfolio of properties, all strategically located on the world renowned Katanga Copperbelt in the Democratic Republic of the Congo (DRC), central Africa.
Contact:
Tiger Resources Ltd.
T: +61-8-6188-2000
F: +61-8-6188-2099
www.tigerez.com