| Low world prices, which have dropped some 80 percent,Cheap Mens Adidas Basketball Shoes, have affected the development of the Matthews Ridge, Region One, manganese mining operation.Major General (ret’d) Norman McLean,Bayern Munich Jerseys, President David Granger,Cheap NFL Jerseys Wholesale, Executive Chairman of Reunion Manganese Incorporated,David Njoku Jersey, Mr. David Fennell and Chief Operations Officer, Mr. Jo Bayah, during the meeting last week.According to Reunion Gold Corporation, a Canadian mineral exploration company that is licensed to do work in the area,cheap jerseys, it has been granted a two-year extension on its licencing obligations by the Guyana Geology and Mines Commission (GGMC).The company has a 25-year agreement with the Government of Guyana for the development of the manganese operation.“As a result of the significant decline in manganese price which has adversely affected the development of the Matthews Ridge project, the GGMC has agreed to defer certain obligations under the licences for a period of up to two years, ending April 30, 2018,”the company announced yesterday.Last week, President David Granger received a courtesy call from Executive Chairman of Reunion Manganese Incorporated, David Fennell, who gave him an update on the company’s operation at Matthews Ridge operation.The company also disclosed, yesterday, that the Matthews Ridge project continues to be on care and maintenance while the company is evaluating various options to fund ongoing obligations.Matthews Ridge Drill RigAs a matter of fact, Reunion said, under the current market conditions, “There can be no assurance that the company will be able to complete a financing or other type of arrangement to fund its ongoing obligations and develop its Matthews Ridge project”.The Matthews Ridge project which contains a significant manganese resource is located in the North West District of Guyana.Reunion’s operations are located on the site of the abandoned Matthews Ridge Manganese Mine which was operated by a subsidiary of Union Carbide Corporation from 1962 to 1968.In excess of 1.66 million tonnes of manganese concentrate were shipped from the mine site during that period.The main project footprint consists of a 15 km-long series of nine hills contained within the Matthews Ridge formation,Nike Basketball Shoes Clearance Sale, which hosts the manganese mineralization and is known to extend for more than 40 kilometers of strike.Prior to Reunion acquiring the project, previous mining operations were confined to hills 5 to 9,Wholesale Jerseys Free Shipping, with little or no work done on the other hills.Reunion commenced exploration in October 2010 with the objective of delineating substantial manganese resources in and around the Matthews Ridge deposits, and assessing the economic potential of the project with the help of modern exploration, processing and mining technology.The Matthews Ridge Manganese Project is currently on care and maintenance while Reunion evaluates options to finance the further development of the project.Reunion has already begun the clearing of old mine roads and access to old mine pits, doing topographical surveys and the layout of a line grid for trenching and mapping. Subsequent exploration work has included systematic trenching, pitting, diamond drilling and reverse circulation drilling.The trenching and drilling programmes were designed both to evaluate the previously mined areas and to define the extent and characteristics of known but unexplored mineralized zones. Metallurgical testing has been conducted on the different types of ores encountered, and studies have been undertaken on geotechnical parameters required for the project infrastructure. |
