Merit Mining Corp. Scales Back its Greenwood Gold Operations
Merit Mining Corp. announces it is reducing the scale of its operations at its Greenwood Gold Mine, including the termination of approximately 45 personnel.
Due to the steep decline in commodity prices, ongoing difficulties achieving targeted mine grades and mill recoveries, and difficult market conditions, it is necessary to make significant reductions in manpower in an effort to achieve positive cash flow through more selective mining underground and higher productivities in the mine and the mill, while endeavouring to improve mill recoveries.
The reduction in the workforce will proceed over the coming week, with mining and milling activities continuing on a reduced basis.
