Trigon Metals, a Canadian mining company, recently achieved a significant milestone at its Kombat mine in Namibia. The company announced that it has successfully mined an average of 980 tonnes of ore per day from its underground operations over a 30-day period. This milestone was crucial as it exceeded the required production threshold outlined in the streaming agreement with Sprott Private Resource Streaming and Royalty (B) Corp. and Sprott Mining Inc.
The successful performance of the underground operations has led Trigon to make the decision to pause its open-pit mining activities starting from the end of September 2024. Several factors supported this decision, including the recommissioning of the underground mine with commercial production declared in May 2024, the ability to mine 900 tonnes per day on average over a 30-day period, the positive contribution of the underground mining operations compared to the open pit operations, and the current milling capacity constraint at the Kombat mine.
Jed Richardson, the CEO and Executive Chairman of Trigon, expressed his satisfaction with the achievement, highlighting that it not only surpassed the feasibility study ramp-up targets but also de-risked the Sprott streaming agreement. This milestone signified the team’s dedication to meeting commitments and was a significant moment for the company.
Rennie Morkel, President and COO of Trigon, emphasized the challenges faced with the open-pit operations due to stripping requirements exceeding forecasts. Pausing open-pit operations will lead to immediate cost savings and allow the focus to shift to higher-grade underground ore, enhancing production potential and cost efficiency.
In addition to operational updates, Trigon also announced the appointment of Odyssey Trust Company as the new registrar and transfer agent, taking over from TSX Trust Company of Canada. This change will streamline the share transfer process for shareholders without requiring any action on their part.
Trigon Metals operates in Namibia and Morocco, with a focus on copper and silver holdings in Africa. In Namibia specifically, the company holds an 80% interest in mining licenses in the Otavi Mountainlands, known for high-grade copper deposits, with a key focus on the exploration and re-development of the Kombat Mine.
While the company remains optimistic about its operations and future plans, it acknowledges the presence of risks and uncertainties that could impact actual results. Trigon continues to adhere to regulatory requirements and aims to provide updates on its progress to stakeholders and investors.
For more information or inquiries, individuals can contact Trigon Metals directly through the provided contact details or visit the company’s official website for additional information.