The new shareholder information comes one day after Galena lodged the notice for its annual general meeting (AGM), which will be held in West Perth on Friday, 8 November 2019.
Project construction commences at Abra
A feasibility study on Galena’s Abra Base Metals Project in Western Australia valued a 16-year lead-silver mine pre-tax at $553 million.
The study estimated Abra would produce 95,000 tonnes of lead and 805,000 ounces of silver per year for 1.24 million tonnes of lead and 10.6 million ounces of silver over the life-of-mine.
In early October 2019, project construction works commenced with activities including site clearing, roadworks, installation of water facilities and camp setup.
Galena continues to target initial production for Abra in 2021 and the first full year of steady-state commercial production in 2022.