Artemis Gold has pushed back the completion date of its Blackwater mine due to delays in setting up the processing network.
Artemis Gold (TSXV: ARTG) has pushed back the completion date for its Blackwater mine in central British Columbia after experiencing delays with setting up the process control network during the holiday season. The company now expects to commence processing of ore through the ball mill and first gold pour in January 2025 after it completes final commissioning of the wet plant. Shares of Artemis Gold traded 0.
7% higher on Tuesday morning on the announcement, sending the Vancouver-based miner’s market capitalization above C$3 billion ($2.1bn). Artemis had previously maintained its first pour target of year-end 2024 despite multiple construction delays. The delays, mainly caused by the BC wildfires this summer, have led to a 7% rise in the project’s initial capital costs to C$780-C$800 million. The Blackwater mine, located 160 km southwest of Prince George, is expected to become the province’s first new gold mine since the Brucejack in 2017. Once in production, it is expected to produce 500,000 oz. of gold equivalent in each of its first 10 years, generating annual free cash flow of about C$500 million at an all-in sustaining cost of $712 per oz
Artemis Gold Blackwater Mine Production Delay Gold Mining British Columbia
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Artemis Virtual Meeting Backgrounds Released Celebrating Artemis I, Looking to Artemis II and BeyondVirtual meetings feeling a little stale? NASA has just unveiled a suite of new Artemis backgrounds to elevate your digital workspace.
Read more »
NASA Delays Artemis Moon Missions Due to Orion Heat Shield IssueNASA has pushed back its first two crewed Artemis moon missions, Artemis 2 and Artemis 3, to 2026 and 2027 respectively. The delay is attributed to a heat shield issue discovered during testing of the Orion spacecraft. The agency aims to use the extra time to address the problem and ensure astronaut safety.
Read more »
NASA delays Artemis II human moon mission once again as it wraps up heat shield investigationThe mission to take four astronauts on a trip around the moon and back, previously targeting a launch at the end of 2025, has been delayed until at least April, 2026.
Read more »
NASA delays Artemis II human moon mission once again as it wraps up heat shield investigationThe mission to take four astronauts on a trip around the moon and back, previously targeting a launch at the end of 2025, has been delayed until at least April, 2026.
Read more »
NASA delays next 2 Artemis moon missions to address heat shield, other issuesHeat shield damage seen during the first Artemis test flight is now understood, NASA says, but more time is needed to implement fixes.
Read more »
NASA delays Artemis II moon mission to April 2026Anna has been a freelance writer for more than a decade. In that time, she's covered everything from electronics to esports, from marketing to magic. Her tech and entertainment reporting has appeared on Ars Technica, Mashable, Digital Trends, and more. She especially loves playing, making, and geeking out over video games.
Read more »