Lupaka Gold (LPK.V) has announced it has shipped a first batch of ore from the Invicta poly-metallic project in Peru to the San Juan Evangelista plant in Huari, where the ore will be processed. The milling procedure will mainly be used to test the results of the metallurgical test work and find out how much chemical reagents will be consumed and what the effective treatment cost per tonne will be.

All of the 900 tonnes should be processed by the end of September, and we’d hope Lupaka Gold will be able to sell at least 125 gold-equivalent ounces although the main intention of this processing program is to test the amenability of the Invicta ore to be processed at the mill. The second step will then be to ramp up the production at Invicta to 100 tonnes per day later in 2015 in anticipation to reaching 350 tonnes per day from the end of next year on, depending on securing the necessary funding and mill capacity.

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Disclosure: The author holds a long position in Lupaka Gold. Lupaka is a sponsor of the website. Please see our disclaimer for current positions.

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