Newlox Gold Ventures (LUX)
Posted: Tuesday Dec 16 9:57:29AM 2014
So far these guys are doing everything they said they would do. If they can produce what is in this press release, annual revenues should be around $7 million with cash flow of around $4 million or $0.09 per share. That is well ahead of previous forecasts. The stock is trading at $0.04 - $0.05. Please conduct your own due diligence.
Newlox adds mixing tank, conveyor to processing plant
Newlox Gold Ventures Corp (C:LUX)
Shares Issued 45,366,991
Last Close 12/12/2014 $0.045
Tuesday December 16 2014 - News Release
Mr. Ryan Jackson reports
Newlox Gold Ventures Corp. has provided an update on progress being made at its initial gold concentrate production facility which was commissioned in September of 2014. Following a financing in late November of 2014, Newlox has embarked on an expansion program at the Company's first processing centre which, when completed, will increase throughput capability from 40 tonnes per day to 80 tonnes per day, effectively doubling gold concentrate production. Expansion of the plant has included the addition of a new mixing tank, installed to twin the first stage of the processing flowchart, a new conveyor to increase the rate and efficiency of ore loading, and a new hydrocyclone to boost efficiency. The addition of two cells to the flotation infrastructure as well as the installation of a new much larger gravity concentrator should be completed during the fourth quarter marking the completion of the expansion program. Limited production of concentrate has continued during the upgrade process, growing the inventory of stockpiled concentrate to approximately 4 tonnes. Simultaneously, the Company has begun the construction of a wholly owned beneficiation facility which will convert concentrates produced at the Company's current and future processing centers into gold dore for sale. The facility is located at a new site which will facilitate easy transport of concentrate from the company's current and future concentrate plants in Central America.
The Company has identified, with the help of UBC, an intensive process, which will reach high levels of efficiency while reducing costs and complexity when compared to traditional leaching techniques. The process uses an oxidizer to accelerate the leaching process as well as ensureing that undesirable elements are destroyed in the reaction, resulting in clean effluent. In addition, reagents used in the elution and Merrill-Crowe stages are recycled, lowering costs and protecting the environment.
Rapid leaching technology will allow for a small plant to process many batches of concentrate. The utilization of truly modern leaching technology allows a small circuit to "punch above its weight class" providing sufficient capacity while keeping capital and operating costs low. When completed, the expanded plant and new beneficiation facility is estimated to yield 16 ounces of gold per day. Dore production will be further enhanced as the Company develops additional projects which have been identified in the region.