Meeka Metals has made rapid progress at its Murchison gold project 60 kilometres north of Mt Magnet, in Western Australia, with open-pit mining operations on the brink of starting, key infrastructure nearing completion and the mining fleet ready to move to site.
Earthworks and the utility services for the new administration buildings at its Turnberry deposit have been completed and installed, paving the way for the arrival of the trucks, loaders and earthmovers in early February, ready for first mining in March.
Management says its timeline to first production in mid-June is still looking good, with the redesigned and bigger plant taking shape.
Two 600 cubic metre carbon in leach (CIL) tanks and a single 145 cubic metre CIL tank have been installed, together with a cyanide storage tank.
Conduits to the switch room are in place, ready for the power up and extensive inspections have been run across the existing plant with worn screens and crushers chutes replaced.
Meeka has now completed the 20km haulage road from the open pit area to the plant and is continuing to recruit senior specialist staff for the operation. The company has also received word it has been approved for a dangerous goods site licence and explosives storage licence, critical for the mining process.
Meeka Metals managing director Tim Davidson said: “Progress and costs continued to track our development schedule as we take meaningful steps toward first gold in mid-2025. The arrival of the open pit mining fleet in the coming week is another important milestone and positions us well for first mine production in March 2025. Pleasingly, we continue to receive significant inbound interest from highly capable personnel seeking employment and the calibre of personnel we have selected to join the business is strong.”
After updating the assumptions last month to account for a greater-capacity ball mill than the one envisaged in its earlier feasibility study, the project numbers now make remarkable reading.
The massively improved study places the project firmly on the road to almost doubling its total free cashflow to $1 billion, with a net present value of $616 million and a seven-month payback.
The report also tipped a 31 per cent boost in ore reserves and a 40 per cent increase in production to 544,000 ounces across a 10-year mine life, with peak annual sales reaching 76,000 ounces in year five.
Since the study was handed down, the gold price has surged a further 10 per cent to $4500 per ounce, meaning the already startling numbers could become a whole lot better.
With infrastructure nearing completion, mining fleets mobilising and skilled personnel joining the ranks, Meeka appears to be entering a game-changing phase. As the countdown to first gold quickens, the stage is set for what may be a golden 2025 for the company.
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By James Pearson
