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Lydian International Ltd. chief excited about "beginning" of Amulsar project

Howard Stevenson, chief executive of Lydian International Ltd, is very excited about the potential of  the group's flagship Amulsar gold mine in Armenia, where engineering work has now started.
The group has $123mln in the bank, which will see it through all activity this year, he says.
This is a large scale, low cost, technically simple open pit project, where the all-in-sustaining-costs are US$585 an ounce and the recovery on the leach pad is put at 87%. 
And that's just for the first ten years. There are resources in the ground to go beyond that.
Next year will see the completion of bulk earth works and the beginning of the construction of buildings, with a first gold pour earmarked for the first quarter of 2018 - a milestone moment.

Quick facts: Lydian International Ltd.

Price: 0.075 CAD

Market: TSX
Market Cap: $57 m

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Lydian gets government green light on heap leach location

Dr Tim Coughlin, President & CEO of Lydian International (TSX:LYD), tells Proactiveinvestors that the location for its new heap leach facility has been endorsed by the Armenian government. Tim says Lydian remains a good investment prospect and, with all-in costs at $700-800 an ounce, the Amulsar...

on 15/10/13

2 min read