Q3 gold sales another positive development at Pambili’s Golden Valley Mine
Pambili NRC reported gold sales of just over C$60,000 in the third quarter of 2024.
Revenue numbers demonstrate progress on our Zimbabwe gold consolidation strategy
CALGARY, Canada (Dec. 16, 2024)—It’s another important step in the journey.
During the third quarter of 2024, Pambili Natural Resources Corporation (TSX-V: PNN) reported gold sales of just over C$60,000, primarily through our onsite toll milling operations at Pambili's Golden Valley mine.
First gold from Pambili’s Golden Valley Mine, following onsite processing of underground development material and historic sands on surface.
Until we start processing our own ore, these quarterly revenue figures are based on the variable grade of ore that passes through our toll-milling plant at Golden Valley, and are likely to fluctuate.
However, it demonstrates that we have an ongoing revenue stream that helps to support Pambili’s in-country operating costs—which include the underground drilling program at Golden Valley, and the due diligence on the option to purchase the London Wall group of mines, announced on Nov. 20, 2024.
“This third-quarter revenue demonstrates genuine progress for Pambili,” notes Pambili Chief Executive Officer Jon Harris. “These gold sales help offset our expenses in Zimbabwe, as we assess Golden Valley’s commercial gold potential through our drilling program and determine our prospects with London Wall.”
Pambili’s immediate goal at London Wall, as mentioned in previous Paydirt articles, is to generate near-term revenue by:
Preparing for the installation of a 20 tonne-per-day (tpd) crushing and milling plant already purchased by Long Strike Investments (pvt) Ltd, with whom we’ve signed the London Wall option agreement;
Mining and processing the previously identified ore-body at the London Wall East shaft;
Rehabilitating the in-situ static leach tanks;
Reprocessing sands from an onsite dump estimated to contain some 100,000 tonnes of material.