Update on the Chatree Gold Mine
Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate or the Company”) can advise that by joint agreement with the Kingdom of Thailand, the arbitral award under the Thailand-Australia Free Trade Agreement (“TAFTA”) continues to be deferred in 2023, while the negotiated settlement is being concluded. Both parties are awaiting the TAFTA arbitral panel to ratify this agreement which is expected shortly.
Both Kingsgate and the Kingdom of Thailand believe achieving an amicable negotiated settlement is the best outcome. Kingsgate also continues to be reassured by the strong level of support from the community and local leaders for the reopening of the Chatree Gold Mine (“Chatree”).
The Chatree Gold Mine
Kingsgate is also pleased to advise that it has received an “Expanded Metallurgical Licence”, which now encompasses the stockpiles and Tailings Storage Facility #2 as well as the processing plants which enables improved operational flexibility.
Further, the refurbishment engineering contractors have started to demobilise, and subject to a final inspection by Thai Government agencies and the delivery of key reagents required for ore processing, the commissioning of Plant #2 will start this month leading to a ramp up into steady state production.
Ross Smyth-Kirk OAM
Kingsgate Consolidated Limited