Range River Gold to develop Indee
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Tuesday, 20 September, 2005 - 22:00
MELBOURNE-BASED Range River Gold will proceed with development of the Indee gold mine, near Port Hedland, with first production anticipated for early next year. The mined ore will be processed at a new plant, costing $6 million, and will generate free cash flow of about $5 million a year in the first three years, the company said. Range River will mine a number of shallow open cut pits, producing about 25,000 ounces of gold a year over the first three years.