The GCM projects has been in the planning for five strategic years and it will be fulfilled over the course of two stages. We will build six separate mines and three process plants.
The first amongst the six is the Golden Camel Open Pit Oxide Mine. It is now “shovel-ready” and all the permits, processing, and trial mining was completed in 2018.
The funding required to cover the costs until the first revenue is approximately $11M AUD. Majority of the budget will be allocated for the construction of the processing facility that is estimated to be $10M AUD.
On April 2022, when the revenue from the first mine commences, the project will be self-sufficient. Consequently, the development of the next three mines will be financed from the cash flow. As for Stage 2, it will begin on November 2023.
Develop 4 out of the 6 mines
Develop the remaining 2 out of the 6 mines