Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
AnglaisFrancais
Cours Or & Argent en

Swan Gold Mining Limited

Publié le 08 novembre 2007

ACQUIRES HILL 50 GOLD

( 0 vote, 0/5 ) Imprimer l'article
  Article Commentaires Commenter Notation Suivre la société  
0
envoyer
0
commenter

 

MEDIA RELEASE     

                                                                                                                                               

8 NOVEMBER 2007

 

 

MONARCH ACQUIRES HILL 50 GOLD

 

Monarch Gold Mining Company (ASX / DIFX:MON) has boosted its golden footprint with the $65 million acquisition of the Mount Magnet Gold Operations project which includes the historic Hill 50 mine.

 

Monarch has acquired the project from South African based Harmony Gold Mining Company (JSE/HAR), and includes the Hill 50, Great Fingall, St George, Star and Big Bell mines.

 

Consideration for the acquisition is $65 million which is made up of cash, equity and convertible notes.

 

The asset package comprises a resource inventory of 2.7M ounces of gold, tenements covering approximately 1,100 square kilometres, along with a 2.7mtpa capacity plant.

 

The resource inventory of 2.7m ounces of gold are comprised as Measured Resource 1.1 million tonnes @ 3.1 g/t Au for 0.1 million ozs, Indicated Resource 16.0 million tonnes @ 3.4 g/t Au for 1.7 million ozs and Inferred Resource 9.0 million tonnes @ 3.0 g/t Au for 0.9 million ozs.

 

Monarch Chairman Michael Kiernan said the acquisition was a defining step for the Company and its shareholders.

 

“This is a world class mining project, with one of the largest landholding packages in the area,” Mr Kiernan said.

 

“This is a significant step toward achieving our goal of becoming a 500,000 ounce per annum gold producer by 2009, and this project will provide a substantial contribution to profit for Monarch shareholders,” Mr Kiernan said.

 

The acquisition will complement Monarch’s current projects in the WA Goldfields region, where it is the largest independent landholder. Following the acquisition, Monarch will have total JORC compliant resources of 5.0m ounces.

 

“Monarch now has two world class gold mining projects – Davyhurst/Mt Ida and Hill 50 – and with the gold price now surpassing US$800 per ounce, we are well positioned to capitalise on the potential of these historic projects,” Mr Kiernan said.

 

Harmony’s acting Chief Executive Graham Briggs said the company had divested the project as part of a global corporate reorganisation of its assets.

“Harmony views Monarch as being the best-placed gold mining company to drive this project forward, and with a significant equity interest in the development of the project, we have confidence that there is long term value in the project under the Monarch umbrella,” he said.

 

Mr Kiernan said Monarch intended to put the Hill 50 mine on care-and-maintenance for up to two years, while it focussed on exploration activities across landholdings.

 

Monarch will launch a substantial drilling program on the landholding to extend the current 2.7 million ounce gold resource base.

 

“We will allocate $10 million per year for the next two years into exploration on the extensive Mt Magnet tenements, with a dedicated explorative team to review and re-optimise existing resources,” he said.

 

Mr Kiernan said the Company aimed to recommence mining within 18 – 24 months, and had an initial production target of 150,000 ounces per annum.

 

The acquisition would be partly funded through capital raised in Monarch’s listing on the Toronto Stock Exchange (TSX) in early 2008. In preparation for the TSX listing, Monarch will consolidate its capital on a one-for-three basis.

 

Terms

Total consideration for the acquisition is A$65 million, including:

 

• Cash                                                        A$30 million

 

• Monarch shares (issued at 7 day VWAP)          A$20 million

 

• Convertible note                                         A$15 million

 

o 3 yr term

 

o 5% per annum interest

 

o 30% premium for conversion to issue price

 

o Secured by the asset

 

A$5 million deposit on signing of contract with Harmony (50% non-refundable).

The Monarch shares to be issued will be subject to shareholder approval.

 

For further information, please contact:

Michael Kiernan                                              Warrick Hazeldine

Chairman - Monarch Gold                               Purple Communications

Tel: 08 9481 6422                                              Tel: +61 (0)8 9485 1254

Mob: 0417 944 616

 

 

Background

 

The Company has a resource base of more than 5.0 million ounces, three state-of-the-art gold treatment plants, and has dominant ground positions in the prolific gold mining region to the north-west of Kalgoorlie.

 

Monarch now has the largest Australian-controlled ground position in the Kalgoorlie region, and an expanded footprint in the Mount Magnet region.

 

Monarch remains firmly on track with its production targets, with mining commenced at the Davyhurst and Mt Ida projects. Monarch’s production at Davyhurst has an average head grade of 5.3g/t Au.

 

Growth Strategy

Monarch’s growth strategy is focused on four potential production centres in Western Australia:

 

Davyhurst - gold resources of 1.5M ozs within a 2,000 sq km tenement package and 1.2mtpa gold processing facility (+1.2Moz historic production)

 

Riverina Project - indicated and inferred gold resources totalling 1.64 million tonnes @ 3.8 g/t Au for 200,000oz.

 

Mt Ida - resources are stated as 143,000t at 24.0 g/t containing 110,650oz of gold within four areas - the Baldock, Whinnen, Meteor and Timoni deposits. Monarch commenced mining gold in July 2007.

 

Minjar - gold resources of over 400,000oz within a 1,722 sq km tenement package and 600,000tpa gold processing facility (+120,000oz historic production)

 

Bellevue - gold resources of 120,000oz associated with the historic Bellevue Gold Mine, one of WA’s premier gold operations (750,000oz historic production)

 

Mt Magnet – gold resources of 2.7M ounces, ground package of 330 tenements covering approximately 1,100 square kilometres. A 2.7mtpa capacity gold processing facility.

 

Monarch’s strategy has been to capture opportunities for the consolidation of gold development assets which have not in the past realised their full potential, either due to a lack of capital or to limited exploration.

 

Monarch is focused on gold production, with a target to be producing 500,000oz per annum by December 2009.

 

For further information visit: www.monarchgold.com.au

 

This report is based on information compiled by John Davis, who is a Member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientist. Mr Davis has sufficient experience which is relevant to the style of the mineralisation and type of deposit under consideration and to the activity which he is undertaking, to quality as a Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting for Exploration Results, Minerals Resources and Ore Reserves. Mr Davis is a full time employee of the Company. This report accurately reflects the information complied by Mr Davis. Mr Davis has consented to the inclusion of this information in the form and context in which is appears in this report.

 

 

 

***

The new Spam Act commenced on 10 April 2004. This Act is aimed at reducing the amount of unauthorised emails you receive.  You have been receiving e-mails containing information and news releases from us on behalf of our clients because you are an important contact of Purple Communications, a boutique stakeholder communications consultancy.   If you do not wish to receive such emails from Purple, please click mailto: purple@purplecom.com.au subject=UNSUBSCRIBE or reply to this email and put UNSUBSCRIBE in the subject line and we will not email you again.

 If you do not reply, we will continue sending you relevant news and information via email. However, all future emails will allow you to unsubscribe.

 

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au    

 

Swan Gold Mining Limited

PRODUCTEUR
CODE : SWA.AX
Suivi et investissement
Add to watch list Add to your portfolio Add or edit a note
Ajouter une alerte Ajouter aux Watchlists Ajouter au portefeuille Ajouter une note
ProfilIndicateurs
de Marché
VALEUR :
Projets & res.
Communiqués
de Presse
Rapport
annuel
RISQUE :
Profile actifs
Contactez la cie

Swan Gold Mining est une société de production minière d'or basée en Australie.

Swan Gold Mining détient divers projets d'exploration en Australie.

Ses principaux projets en production sont LA CAMORRA MILL au Venezuela et MINJAR et MOUNT MAGNET en Australie et ses principaux projets en exploration sont BELLEVUE PROJECT, LONDONDERRY, YERILLA et REPUBLICAN en Australie.

Swan Gold Mining est cotée en Australie. Sa capitalisation boursière aujourd'hui est 27,1 millions AU$ (25,1 millions US$, 16,3 millions €).

La valeur de son action a atteint son plus bas niveau récent le 05 novembre 2009 à 0,29 AU$, et son plus haut niveau récent le 04 juillet 2014 à 2,95 AU$.

Swan Gold Mining possède 91 850 000 actions en circulation.

Votre avis nous interesse, merci de laisser un commentaire ou de noter cet article.
Evaluer : Note moyenne :0 (0 vote) Voir les mieux notés
 
Rapports annuels de Swan Gold Mining Limited
2007 Annual Report
2005 Annual Report
2003 Annual Report
Nominations de Swan Gold Mining Limited
14/08/2007APPOINTS MATTHEW GILL AS MANAGING DIRECTOR
Projets de Swan Gold Mining Limited
05/06/2008(Mount Magnet)(ASX:MON) Advancing at Mount Magnet
15/04/2008(Mount Ida)High Grade Expansion at Mount Ida
19/03/2008(Mount Magnet)MOVING FORWARD WITH MOUNT MAGNET
06/11/2007HITS MORE HIGH GRADE GOLD
04/09/2007INTERSECTS HIGH GRADE GOLD
07/08/2007(Davyhurst)POURS FIRST GOLD
17/04/2007(Davyhurst)$6 Million Exploration Program
Communiqués de Presse de Swan Gold Mining Limited
03/07/2009Creditors Accept Stirling Proposal
07/07/2008Advances with $30m Go Forward Funding
08/04/2008Sells Minjar Gold Project
04/02/2008finalizes Mt Magnet purchase agreement
15/01/2008RIVERINA READY TO ROLL - PROJECT UPDATE
16/11/2007ANNUAL GENERAL MEETING
08/11/2007 ACQUIRES HILL 50 GOLD
23/10/2007TARGETS RE-RATING THROUGH TSX LISTING
03/10/2007CAPITALISING ON GOLD GROWTH
07/08/2007LAUNCHES SIGNIFICANT EXPLORATION PROGRAM
06/08/2007CONTINUES EXPANSION
06/08/2007commits funds to Kalgoorlie community housing project
05/08/2007UPDATE: commits funds to Kalgoorlie community housing proje...
08/06/2007EXTENDS RICH MT IDA ACQUISITION
17/05/2007Gears Board for Production
14/05/2007Explores Listing on Dubai Exchang
11/05/2007Placement and entitlements Issue
Publication de commentaires terminée
 
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
AUSTRALIA (SWA.AX)
0,295+5.36%
AUSTRALIA
AU$ 0,295
13/06 21:06 0,020
5,36%
Cours préc. Ouverture
0,280 0,280
Bas haut
0,280 0,295
Année b/h Var. YTD
 -  -
52 sem. b/h var. 52 sem.
- -  0,295 -90,00%
Volume var. 1 mois
150 885 -90,00%
24hGold TrendPower© : 34
Produit Gold
Développe
Recherche Gold
 
 
 
Analyse
Interactive chart Add to compare
Graphique
interactif
Imprimer Comparer Exporter
Vous devez être connecté pour accéder au portefeuille (gratuit)
Top Newsreleases
LES PLUS LUS
Variation annuelle
 
Graphique 5 ans
 
Graphique 3 mois
 
Graphique volume 3 mois
 
 
Nouvelles des Sociétés Minières
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
0,12 AU$-8,00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
7,15 AU$-3,77%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
2,20 AU$+0,00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
3,86 AU$+0,00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
0,12 CA$+4,55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
0,02 CA$+100,00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
5,77 US$-2,86%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
0,80 GBX-3,75%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,08 CA$-11,11%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
2,05 CA$+3,02%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
8,55 CA$+1,18%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,18 CA$+2,86%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
0,30 AU$+0,00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
2,50 CA$+2,46%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
68,46 US$+0,26%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,03 AU$+0,00%Trend Power :