A Canadian gold mining company is seeking a partner for a project that would result in mineral extraction from Guyana and a silico-manganese plant in T&T, in a release from Reunion Gold Corporation. The corporation entered into a memorandum of understanding with the National Energy Corporation of T&T (NEC) to explore the feasibility of setting up a silico-manganese plant in T&T. The company had a working capital of CA $0.9 million, excluding loans from related parties. The company will require funds to carry out its activities and to this effect, is evaluating various financing alternatives. There can be no assurance that additional funds will be available, or available on terms acceptable to the company. Reunion Gold provided an update on its Matthews Ridge manganese project. It has retained the services of consulting firms to assess the viability of reducing the output of the Matthews Ridge Project and converting the manganese concentrate into silico-manganese alloys in T&T. Subject to ongoing studies and available financing, Reunion Gold's focus of the year will be to carry out essential work for the full feasibility study of the Matthews Ridge Project, including additional drilling on the footprint area and at other surrounding prospects.
Reunion Gold announced that it had retained Worley Parsons to conduct a scoping-level study to assess the parameters relating to the possible development of a silico-manganese plant that would be located in T&T.
The Matthews Ridge Project consists of 4 prospecting licenses covering an area of 185 sq km in northwest Guyana.
The company proved its reserve estimate of 26.3 million tonnes of manganese with an average grade of 14.2% Mn.