Trigon Metals plans to restart operations at its Kombat Mine in Q2, a year after having suspended operations to optimise its newly increased working capital by reconfiguring the mine plan to focus on higher grade and more consistent orebodies drilled in the Kavango pit and Kombat trend mineralisation.
Trigon is betting on the revised mining plan to dramatically improve operating costs at the mine.
“Kombat Mine is projected to start up in calendar Q2/23 and Trigon has completed all drilling necessary for mine planning for the restart of the open pit. In addition, mine contractors have returned to the site at Kombat Mine and several new key geological personnel have joined the team,” Trigon Metals Chief Executive Officer and President Jed Richardson said.
He said in preparation for the commencement of underground mining in 2024, the Company had started work on sizing and picking underground equipment, with some key appointments made to its geology team.
“Analysis of the flooded shaft is underway utilising submersible cameras. We are pleased to report the shaft is in excellent condition and pumps are being ordered to commence drainage. Trigon is pleased to welcome a talented team of mining professionals to Kombat Mine,” Richardson said.
He also announced that common shares of the company had begun trading on the OTCQB Venture Market in the United States as part of efforts to improve the information and trading experience for investors.
“Trigon has also received DTC eligibility by the Depository Trust Company (“DTC”) for its shares traded on the OTCQB,” Trigon Metals Chief Executive Officer & President said.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies.
Established in 1962, Kombat Mine was forced to shut down in 2008. At the close of 2021, Trigon resumed production at Kombat Mine following 14 years of closure and in August of last year suspended operations.
Trigon is a Canadian exploration and development company with a focus on copper and silver holdings in Africa, with operations in Namibia and Morocco.