Belvedere Resources is led by a strong management team with extensive in-country experience and a successful history of creating shareholder value through exploration, development and production.
We have been funding advanced exploration on a series of gold properties with the positive cash flow generated from the Hitura nickel mine since re-acquiring the property and restarting production in 2010. Our goal is to build resources at our gold properties while continuing to optimize nickel production.
The model for our gold production is based on satellite mining around the existing mill and other infrastructure at the Hitura site. The Kopsa Gold property is within trucking distance from the Hitura complex – being just 13km away, which potentially gives us a very low CAPEX route to gold production. Currently there is NI 43-101 resource of 223,000 oz @ 1.04 g/t Au in indicated resources and 43,000 oz @ 0.76 g/t Au in inferred resources at this property.
It is the beginning of a new era at Belvedere Resources as we work toward production on our first open pit gold project at Kopsa. In mid 2013 we will be receiving the results from the ongoing metallurgical testing from the Kopsa property and the completion of the Preliminary Economic Assessment (PEA).