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.
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 October 2013 we published the results of a positive Preliminary Economic Assessment (PEA) on Kopsa and the permitting process is continuing in parallel with the economic studies. The company has a number of other gold properties in close proximity to the mill which could be developed in the future for processing at the Hitura mill complex.
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. Since June 2013, low nickel prices have necessitated the Hitura nickel mine be put on care and maintenance. This frees up the mill complex to be modified to produce a copper gold concentrate and gold silver dore onsite, providing a very low capital intensity processing route for Kopsa Run of Mine (ROM) material.