Matachewan Consolidated Mines Ltd (MCM.A)

[NYBob]

The mine will have a 15-year life and will produce 180,000 ounces of gold annually.

A successful $2.6-million exploration drilling campaign east and west of the deposit has yielded good results, suggesting Young-Davidson may stay in production beyond that time.

When mining starts, Young-Davidson will run as an open pit for two years before operations move underground.
Project manager Andrew Cormier said it’s "critical" to deliver feed to their 6,000-tonne-per-day processing mill while development of the underground workings continue.

Rather than sink a new production shaft from surface,
the company decided to deepen the old
Matachewan Consolidated Mine shaft -
from 775 metres to 1,515 metres and raise a new shaft
from the bottom of the reserve.

This oldy may get a goldy uplift
http://investorshub.advfn.com/boards/board.aspx?board_id=17882

The production shaft work is contracted to North Bay’s Cementation.

Northgate has completed its first round of hires
with 60 employees on site.
They’re working with Dumas Contracting of Timmins,
who built the exploration ramp, to take over
more of the underground development.

On the surface side, MLA Northern Contracting
of Thunder Bay was starting work in August on
the ground preparation for the $81-million gold
processing plant.
About $75 million will be spent on infrastructure,
including a new administration-engineering building,
warehouse and maintenance shop.
--

I bought into Matachewan Mines Ltd. must be about
20 yrs ago and its nice that things start to pick
Up -
we do not stop playing because we are old -
we grow old because we stop playing ~<
God Bless