Rand Mining Pauses Production at Raleigh Gold Mine

Rand Mining provided an update on underground mining activities at the East Kundana, placing production at the Raleigh mine on hold.

Rand Mining (ASX:RND) have provided an update on underground mining activities at the East Kundana in which Rand holds a 12.25 percent interest.

EKJV Management Pty Ltd, a company owned by Northern Star Resources (ASX:NST,OTC Pink:NESRF) has recommended that the Raleigh underground mine be placed on care and maintenance in April 2020 as a result of a significant seismic response following the firing of stoping panels in the southern mining area of Raleigh during January 2020.

As quoted in the press release:

The seismic response occurred around the 6000 to 5949 levels of the mine, with each of these levels sustaining substantial damage, with significant
rehabilitation required to re-establish access. The southern mining area has been deemed unsafe and is now excluded from all underground activity. No personnel were underground at the time of the firing.

EKJVM has proposed a revised mining plan that would see underground mining suspended at Raleigh in April 2020. The life of mine plan previously presented to the Company in October 2019 saw Raleigh production continuing to 2026 to exploit the ore reserves reported by Northern Star in August 2019. It is currently anticipated that Raleigh will be placed on care and maintenance from April 2020 to allow time for EKJVM to conduct a detailed assessment of the potential to recommence mining.

At the EKJV technical committee meeting held on January 29, 2020, the company requested the engagement of an independent mining consultant to complete a review of the seismic event and the revised mining plan proposed by EKJVM. Underground mining at the other deposits within the EKJV remains unaffected and is continuing as planned.

Click here to read the whole Rand Mining (ASX:RND) press release.

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/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES./

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Click here to read the previous best ASX gold stocks article.

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(All financial figures in US Dollars unless otherwise stated)

/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES./

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