Gold and Precious Metals

Kingsgate Consolidated (ASX:KCN) appoints precious metals refiner for Chatree gold mine – The Market Herald

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  • Kingsgate Consolidated (KCN) appoints a contractor to process the gold and silver ore produced from the Chatree Gold Mine in Thailand
  • The company selects Precious Metals Refining Company (PMR), which hosts some of the largest capacities in Thailand, for the role of precious metals refiner
  • Kingsgate believes the refiner will be more than capable of processing the 100,000 ounces of gold and one million ounces of silver expected to be produced at Chatree on an annual basis once the plants have been restarted
  • While the exact remuneration of the agreement was not made public, Kingsgate says its contract terms are “very competitive”
  • Kingsgate Consolidated shares are trading grey at $1.56 at 10:10 am AEST

Kingsgate Consolidated (KCN) has appointed a contractor to process the gold and silver ore produced from the Chatree Gold Mine in Thailand.  

The company has selected Precious Metals Refining Company (PMR), which hosts some of the largest refining capacities in Thailand, for the role of precious metals refiner.

Kingsgate said it believed the refiner would be more than capable of processing the 100,000 ounces of gold and one million ounces of silver expected to be produced at Chatree on an annual basis once the plants have been restarted.  

PMR’s refining facility is found in the Amata City Industrial Estate, about 40 minutes outside of Bangkok, and is said to have the best-in-class environmental, health and safety management available.

PMR has the ability to process gold to a purity of 99.99 per cent and is among the first in Thailand to comply with the strict laboratory standards being certified by the Gem and Jewellery Institute of Thailand.

“We are delighted to be partnering with a locally based state of the art refiner, which not only gives us a stronger local footprint and creates more jobs in Thailand but gives us a real opportunity to create ‘Thai gold for the Thai people’,” Kingsgate’s Executive Chairman, Ross Smyth-Kirk, said.

While the exact remuneration of the agreement was not made public, Kingsgate said its terms were “very competitive” and gave rise to Kingsgate to explore a range of “value-adding opportunities” in the Thai domestic gold market.

Kingsgate Consolidated shares were trading grey at $1.56 at 10:10 am AEST.

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