Northern Mine Construction Set For Spring

Northern Mine Construction Set For Spring

Wednesday, January 21, 2009 at 14:26

 

 

Golden Band Resources of Saskatoon could begin construction of its mines north of La Ronge as early as May or June.

 

And those facilities could be operational by this fall.

 

The project would employ about 50 people in the construction and pre-production phase. It would employ about 102 people when it’s operating.

 

That’s the word from Golden Band’s president and CEO, Rodney Orr.

 

Orr says a pre-feasibility study shows the mining operation is viable.

 

He notes gold has been rising in value. It was trading at 855 dollars an ounce U.S., this morning.

 

The company is working on its environmental impact assessment.

 

It’s also raising money for the estimated 26-million-dollar cost of the project.

 

Orr hopes to have both in place by May or June.

 

The mine is expected to last eight to 10 years.