Gem Diamonds Limited announces a revised Life of Mine Plan for Letšeng and a two-year extension to the Group’s revolving credit facilities. Letšeng’s Revised Life of Mine Plan Summary;
1: Steeper slope design for the final open pit cutback of the Satellite pit completed and approved.
2: High-wall structural and lateral support designs completed.
3: Significant reduction of Satellite Cut 6 West ore to waste stripping ratio from 1: 6.9 to 1: 2.1 (87.9 million tonnes to 21.5 million tonnes).
4: Significant reduction in future waste-stripping costs of c.US$180 million.
5: SC6W ore reduced from 12.8 million tonnes to 10.4 million tonnes.
Extended Group Revolving Credit Facilities, the Group’s revolving credit facilities of US$71.7 million, due to expire on 21 December 2024, have been extended for two years to 21 December 2026.
Letšeng’s Revised Life of Mine Plan; the Group is pleased to announce Letšeng’s revised Life of Mine Plan following Board approval of the new slope design of SC6W, the final open-pit cutback in the Satellite pit.
The pit slope design in the kimberlite (ore) of SC6W remains at the current slope angle design.
The revised SC6W waste slope design has, however, resulted in a reduction of 2.4 million tonnes of accessible ore when compared to the current design. An opportunity to steepen the kimberlite slopes is being assessed, which will allow access to additional ore with little to no further waste stripping required.
The Life of Mine Plan in the Main pit has been updated to include inferred ore which will be accessible within the existing pit design with little to no further waste stripping required.
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