The Miranda Project is located in the cantons of Zaruma and Portovelo, Province of El Oro, southern Ecuador, about 175 kilometers south and 60 kilometers southeast of the major port cities of Guayaquil and Machala respectively. The centre of the property is located on 654,500 East and 9,594,000 North (UTM PSAD-56, zone 17S) or longitude 79° 36' 31" West and latitude 3° 41' 20" South (Provisional South American 1956 projection).
The mine is strategically located close to two medium-sized mining towns: Zaruma and Portovela. Access to them is about 2 hours drive from the city of Machala through asphalted roads. Access on the project area is facilitated by a relatively dense network of secondary roads. The project area is also traversed by a main highway to the city of Loja.
From the web site:
"At the moment, we are processing 50t/day of ore from two different shafts. One at 1250 level and the other at 1450 level, which gives us the great advantage to develop six more mine levels right now. The company is currently extracting ore from three different veins, and with new acquisitions currently on the way, the company will soon double production after raising more capital to improve the capacity of the processing plant.
The capital raised will be invested in the following Gold circuit process:
- The dump trucks unload the ore in the coarse hopper.
- The crushing system has 2 units: A primary 10"x 16" jaw crusher and a secondary 3' cone crusher that delivers the material to 85% 1/2" to the fine hopper.
- The grinding section - classification, uses a 6' x 6' ball mill that works in an open circuit and at the same time creates a closed circuit with the 5'x5' ball mill.
- The cyaniding begins in the ball mill where 50% of the required reagent is fed.
- The cyaniding continues in two pregnant solution tanks of 18'x18' and 15'x15' during a total time of 24 hours (green tanks). Previous alkalization took place with ph 10, 5.
- Capture of dissolved gold with activated carbon in 5 tanks of 11'x11'.
- The activated carbon is brought to the elution system for its treatment and soon given back to the Plant for its reuse.
- End product: Gold Bars.
- Tailings are deposited in the respective tailing ponds and the surplus cyanide is destroyed."
"The 20t/d processing plant that is processing material at the moment is using four primary Chilean mills with three wheels to grind the ore and then the free gold is recovered on sluice boxes. The tailings are sent by the slurry pump to the ball mill and then to the CIP agitating tanks."
Share Structure as of 8/22/12 Authorized: 2,500,000,000
Outstanding: 1,518,031,318 increase of 46,999,940 since 6/30/12
Float: 256,428,968 increase of 44,000,000 since 6/30/12