| True Gold Mining Inc. - TGM.v is advancing the flagship heap-leach Karma gold mine in Burkina Faso, West Africa. |
On March 4, 2016, the company announced that Endeavour Mining Corporation has agreed to acquire all of the issued and outstanding common shares of True Gold in an all-share transaction.
"True Gold Mining Inc. (TSX-V: TGM) (“True Gold” or the “Company”) is pleased to announce that it has started irrigating ore on the heap leach pad and is well advanced with commissioning the ADR plant. Mining is ahead of schedule with 600,000 tonnes stockpiled at above average reserve grade. The Karma Mine is on track for first gold pour around the end of March 2016.The operations team is fully staffed and actively engaged in the ramp up to commercial production. The crushing, agglomerating and stacking circuit is now operating on a 24/7 schedule and has been treating ore at a rate of 600 tonnes per hour.
“With gold production only weeks away and almost five months of mining under our belts we are pleased to see mining costs tracking in-line with the feasibility study. We have purchased all key supplies and reagents and are seeing the benefits of lower prices for fuel, cement and cyanide at below feasibility cost estimates,” said Christian Milau, President & CEO of True Gold.