PERTH (miningweekly.com) – Gold miner Doray Minerals has signed a sales agreement with Sydney-based Lewer Corporation for the entire production of copper-gold middlings product processed at the Deflector mine, in Western Australia.
The copper-gold material will be shipped to Germany in two batches for sampling, assay and payment, with the first shipment due in Germany in late April.
A first provisional payment of A$10.75-million is due to be received by March 24.
Doray on Wednesday said the second and final remaining smaller batch of material was currently being produced at the Deflector mine, and was expected before the end of May.
At the completion of sampling, a second and final payment will be made to Doray to reconcile with agreed weight, grades and average prices of the contained gold.
Without releasing any of the contractual terms, Doray told shareholders the company expected the majority of payments to have been received by the end of June.
Edited by: Creamer Media Reporter
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