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The company has metallurgical and environmental baseline studies underway and plans to begin preliminary economic assessment studies in Q2. Transportation connections include a seasonal road leading to an all-weather highway 10 kilometres away and an airport at the town of La Ronge, 40 kilometres from the project. La Ronge’s long-range plan is to take Preview into production itself.
The March 4 announcement sent the stock soaring from $0.235 to $0.36 before plunging to $0.22. By the closing bell it climbed back to $0.33. La Ronge opened March 5 at $0.32 before dropping to a $0.28 close.
La Ronge camp’s two producers are Claude Resources TSX:CRJ and Golden Band Resources TSXV:GBN. Three deposits comprising two underground mines at Claude’s Seabee operation totalled 49,570 gold ounces last year, with 50,000 to 54,000 ounces forecast this year. Surface and underground drilling at Santoy Gap should lead to initial production from a fourth deposit in late 2014, according to company plans.
Last month Golden Band temporarily closed one of its two mines, the Komis open pit, which only began production in October 2012. The purpose was “to free up equipment and personnel for the construction of road access to the Golden Heart deposit,” which is slated for open pit production. Operations continue at the Roy Lloyd underground mine and Jolu mill. On March 5 the company announced the appointments of chairman/CEO Paul Saxton and CFO Jimmy Mah.
Although the most recent Fraser Institute Survey of Mining Companies dropped Saskatchewan from sixth to 13th place in overall standings among mining jurisdictions internationally, the province continued to draw positive comments from explorers. Some excerpts from the survey include “progressive, mining-friendly government,” “an effective mechanism for consultation and issuing permits,” “one of the more straightforward jurisdictions for obtaining an approved LUP [Land Use Plan]” and “a transparent process.”
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