Mintails planning comeback

FAILED South African tailings miner Mintails is looking to reinvent itself as a Western Australian gold producer.

Mintails planning comeback Mintails planning comeback Mintails planning comeback Mintails planning comeback Mintails planning comeback

The company is proposing to acquire two WA gold projects via the acquisition of companies Orminex West and Golden Lode.

Orminex West owns 51% of the Comet Vale gold project, while Golden Lode holds 100% of a project of the same name.

Orminex West and Golden Lode are related entities of mining contractor GBF Mining.

A conditional mine management agreement has been signed with contractor GBF Mining for underground mining at Comet Vale, and Mintails will form a strategic alliance with GBF to pursue high-grade stranded gold assets in Australia and New Zealand.

Comet Vale has a resource of 750,000 tonnes at 8.4 grams per tonne gold for 203,100 ounces of gold.