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Harte Gold is planning a phased restart of operations to an 800 tonnes per day throughput rate from mid-July.
It will restart mining at the Nort and South zones, and mill operations are planned to resume late July once a sufficient stockpile has been developed.
For 2020, gold production is forecast at between 20,000 and 24,000 ounces, rising to between 60,000 and 65,000oz in 2021. Previous guidance for 2020 had been 42,000-48,000oz.
To finance the restart, mine development, capex and infrastructure work at Sugar Zone, the company entered a binding term sheet with Appian Capital Advisory for up to US$30 million, including a US$9.5 million share issue a and a US$18.5 million loan.
In time, Harte plans to open up the Middle Zone at the mine, which should allow an increase of the throughput rate to 1,200tpd. A feasibility study will look at the required processing facility upgrades as well as review the surface infrastructure and tailings management.
