Producing Gold Mine
Trial production commenced in 2016; commercial production started in 2017; and Naran Mandal is currently generating growing operating cash flows.
Production Scale Up
The current production is expected to scale up extensively from the current capacity of 5 tons per hour to 25 tons per hour in the next three years, with the increased ore production from Vein One and Vein Ten deposits.
JORC Standard Resource
The deposit has a JORC compliant estimated resource of 212,500 ounces of gold at 8.7 grams per ton as a result of a 2017 drilling campaign. This resource was calculated only on Veins One and Ten at shallow depth. Historical surveys suggest enormous upside potential at depth and on the other 53 veins.
The deposit is orogenic in nature, meaning the mineralization extends to depth -1,000 meters or more. The deposit has only been explored to a depth of 200 meters on only two of the 55 veins, leaving enormous upside potential.
Naran Mandal established an agreement with highly experienced geological experts from PanEx for regional exploration, including in-mine, near mine, and regional exploration on other greenfield properties.
Low Cash Costs
Projected cash costs at full production are extremely low due to high gold grades and low operating costs.
World Class Management
Naran Mandal’s strong management team has vast experience and a proven track record in Mongolia and beyond, including Kumtor Gold Company, a multi-million ounce gold mine in Kyrgyzstan.
Socially Responsible Gold Mining
Our company puts responsibility at the heart of its operations in terms of safety, environment and the local community.