GALENA MININGLTD.("Galena" or the "Company") (ASX:G1A) reports on its activities for the quarter ending 30 September 2021 (the "Quarter"), focused on construction of its 60%-owned Abra Base Metals Mine ("Abra" or the "Project") located in the Gascoyne region of Western Australia.


HIGHLIGHTS:

  • Underground mining contractor, Byrnecut mobilised to site late in September, with first cut taken in Abra decline on 5th October2021
  • Overall construction works continued during the Quarter with a further 4% of the Project being completed, taking cumulative Project completion to21%
  • Port and logistics contracts were executed for transport from mine and export of Abra's high-value, high-grade lead-silver concentrate via GeraldtonPort
  • Significant long lead-time orders were placed (~A$12M at Quarter-end), including processing plant ball mill and concentratefilter
  • Cash balance as at Quarter-endA$88.9M

ABRA BASE METALS MINE (60%)

Abra comprises a granted Mining Lease, M52/0776 and is surrounded by the Exploration Licence E52/1455, together with several co-located General Purpose and Miscellaneous Leases. The Project is 100% owned by Abra Mining Pty Limited ("AMPL"), which in turn is 60% owned by Galena, with the remainder owned by Toho Zinc Co., Ltd. ("Toho") (pursuant to an Investment Agreement and Shareholders Agreement with Toho).

Abra is fully permitted and under construction. First production of its high-value, high-grade lead- silver concentrate is currently scheduled for the first quarter of 2023 calendar-year.


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Galena Mining

Galena Mining

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