Gold Horizons Mining Co. Ltd. nears completion of Processing Plant with the electrical contractor hired and working
requipa, Peru - Gold Horizons Mining (GHM) a BVI corporation (ticker: GHMG on GXG markets) can inform that central to the ramping up of gold production and a key component in Gold Horizon’s mining success is the completion of its new Yuromayo Processing Plant. In relation to this GHM is pleased to announce that all work with MBM Mining S.A.C. which consisted of completing the metal fabrication, mechanical connections, plumbing, installation of primary crusher, mills and conveyors, initial installation of electrical motors and metallurgy testing has been completed.
The next step is to finalize the electrical installation and wiring up of all the integrated components. Our senior joint venture partner on June 19th signed a contract with Maquinarias Portella S.A.C to complete this work. The estimated completion time is around 25 days. CEO and GHM President, Scott Francis explains: ”I am pleased to finally reach this stage in the construction of the processing plant. The electrical installation is the last major step in the completion of the plant. In the coming weeks we will be breathing life into our wonderful facility by starting and testing for the first time all the major components which will include crushers, conveyors, mills and pumps. This cannot happen too soon as we have also been working hard to develop the Gloria Mine veins, specifically the Julia and Blanca veins. Widening of the tunnels, installation of electric winches in the shafts and ventilation are some of the improvements, which will increase our daily production and mineral reserves. In addition to Gloria mineral being accumulated the company has also secured numerous letters of intent from local miners to process their entire mineral stock. They too are stockpiling significant levels of ore in anticipation of our processing plant coming online. The plant is estimated to begin processing between 40 and 60 tons per day and with the combination of these local mines as well as the Gloria mine mineral it will not take long before the plant is at full capacity and we can begin expansion to accommodate more mineral aiming at the 250 - 300 tons per day capacity all of which will bring in massive increases to revenue and the companies bottom line. These are exciting times indeed and I am pleased to be part of it.”
