CEO: 'Turnaround strategy' well underway
Liberty Mines is driving toward generating 4 million pounds of nickel this year and the company recently took a significant step toward that end, according to Mining Weekly.
Chief executive officer Chris Stewart told the news service that the company he leads is well into its "turnaround strategy," a reference to the suspension of milling operations in February 2011. The company had to perform maintenance requirements such as fixing and upgrading the tailings pond, which would help enhance mining services.
The Redstone mill resumed generating late last month and earlier this month is shipped 128 tons of nickel concentrate.
"Generating cash flow marks another important step of our turnaround strategy. In the coming months, we plan to improve the grade of our concentrate production through ongoing analysis and optimization of our milling circuit, as our team works to maximize revenue generation," Stewart told the news source.
The company also is looking to resume operations at another mine. Located due east of Redstone, the McWatters mine holds roughly 800,000 tons of nickel at 0.58 percent grade.
Liberty also is aiming to develop initiatives that help encourage growth by employing exploration that is more aggressive among the properties presently under its jurisdiction.
That prompted the discovery of a resource for nickel, also due east of Redstone.
"The new discovery would be subject to further exploration during the year to establish more clearly what we have. It could possibly change our strategy on how we develop the two deposits," the chief executive officer told the news source.