Stirling Rethinks WA Gold Projects

8 October 2009 (Last Updated October 8th, 2009 18:30)

Stirling Resources is re-evaluating its Carnegie and Mt Ida gold projects in Western Australia at present gold prices. Based on short mine lives, the company has declared annual output targets of 50,000oz and 60,000oz for Mt Ida and Carnegie projects, respectively. Average ca

Stirling Resources is re-evaluating its Carnegie and Mt Ida gold projects in Western Australia at present gold prices.

Based on short mine lives, the company has declared annual output targets of 50,000oz and 60,000oz for Mt Ida and Carnegie projects, respectively.

Average cash costs are estimated at A$420 an ounce for Mt Ida and A$800 an ounce for Carnegie.

Stirling managing director Michael Kiernan said that resumption of mining at Mt Ida and Carnegie could be compelling in light of the recovery of commodities and equities and added strength in gold.

“We have refined our geological and metallurgical understanding of the projects, and it will allow us to hit the ground running with a focus on improved mine planning, and management control of mine grade and costs,” Kiernan said.