The Phase 2 expansion at Jacobina was successfully completed in the third quarter 2022, with the mine achieving a sustained throughput rate of over 8,600 tpd in each of the three months, exceeding the Phase 2 throughput objective of 8,500 tpd and establishing Jacobina’s sustainable production profile at 230,000 ounces of gold per year, as grades will increase in 2023 due to the reduction of reliance on stockpiles, combined with access to higher grade zones.
As the Phase 2 expansion, which has now been completed, was advancing ahead of schedule, the Company has begun pursuing the Phase 3 expansion to 10,000 tpd through continued incremental debottlenecking. With the permit to 10,000 tpd already in hand, Phase 3 is expected to increase gold production to approximately 270,000 ounces per year by 2025 with a modest capital expenditure of $20 million to $30 million.
? The Phase 4 expansion, of up to 15,000 tpd, would increase gold production in excess of 350,000 ounces per
year. To ac |