Stonewall Mining is still planning to resume gold production at The Transvaal Gold Mining Estates (TGME) which has considerable assets in the Pilgrim’s Rest, Graskop and Sabie areas. “We want to get ourselves back up and running again. We want to revitalize the area and contribute to the economy and huge unemployment” stressed George Jenkins, CEO of TGME.
Production is however still some time off. Months of work have gone into studying historical plans and information on the old mines so that properly informed decisions could be made. The result of this has been that considerable increases could be made in the mine’s official statement of gold resources. This work, however, was on paper and not in the actual field leaving some gaps in the information.
Exploration drilling has now been started on Theta and Columbia hills around Pilgrim’s Rest, both of which are areas identified as having very good prospects. “We expect that the results will take us the next step forward,” said George Jenkins, CEO of TGME. “We are hoping for a leap, but it may only be a step or nothing at all”. TGME does, however, have many other assets and there are numerous other options if the exploration drilling doesn’t yield the expected results.
After the exploration work has been done it will take time to complete a feasibility study to present to potential investors. The next phase will be construction, including total refurbishment and upgrading of the TGME plant. “In terms of a timeline to production, I would suggest that we are two to three years away at best” explained Jenkins.
Jenkins also stressed, with regard to recent comments on social media, that Stonewall mining had absolutely no connection with the Gupta family or President Zuma’s son, either as investors or shareholders. Regarding recent permit applications by the mine, he also explained that they were in the process of converting existing prospecting rights into mining rights. Proper processes were being followed and given the sentiments of potential investors from overseas, as well as government oversight, the days of irresponsible mining with regard to environmental impact were long gone.
TGME had also been awarded the tender for the Pilgrim’s Rest golf course. Jenkins explained that there was a memorandum of understanding with the current golf club which would continue to manage the golf course with assistance from the mine. They had tendered due to concerns that the golf course, with its rich heritage, might be lost. It is also an area where the mine could make some contribution as part of its labour and social development plan.