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Swan Gold Mining Limited

Publié le 14 mai 2007

Explores Listing on Dubai Exchang

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MEDIA RELEASE                                                                                     14 May 2007

 

MONARCH GOLD EXPLORES LISTING ON DUBAI EXCHANGE

                                                                       

Dubai, United Arab Emirates – Monarch Gold Mining Company Limited, an Australian gold company listed on the Australian Stock Exchange, is exploring the possibility of listing on the Dubai International Financial Exchange (DIFX).

 

Michael Kiernan, Monarch’s Executive Chairman, and a number of the company’s executives and advisors are in talks with the DIFX and investment bankers in Dubai this week.

 

Global commodities prices have soared in recent years; the increase in precious metals and oil prices has been especially marked. Australia is rich with natural resources, particularly in the mining sectors. Monarch Gold was formed in 2002 by a group of experienced mining executives focused on gold exploration in the relatively unexploited western region of Australia.

 

The company has grown to become the largest Australian-owned landowner in the mineral rich area of the Kalgoorlie Gold Fields located in Western Australia. Monarch Gold currently has a resource base totalling 2.4 million ounces and two state-of-the-art gold treatment plants.

 

The possible listing in Dubai is part of a larger trend of foreign companies providing investment opportunities for regional investors.

 

Dubai is known as the ‘City of Gold’ and Monarch is aiming to be a significant provider of gold-related investment opportunity for investors in the region,” Mr Kiernan said.

 

“We are very pleased with what we have seen in Dubai. The DIFX offers clear legal and financial structures that parallel the world’s most advanced exchanges, therefore listing here makes perfect sense. We believe Monarch’s proposition will be attractive to investors in the region, both individuals and institutions. Although commodities prices are cyclical, our current extraction costs are below the market rate for gold, and investing in gold is an appropriate way to store wealth. Over the next 12 months, Monarch expects to generate A$25 million in after tax profit from mining gold in Australia.”

 

“Our goal is to have approximately 15 per cent of Monarch’s shareholders to be based in the UAE region.”

 

Monarch Gold is currently implementing an aggressive expansion strategy in acquiring projects that have promising gold production potential in Western Australia.

 

Monarch remains firmly on track with its production targets, with mining of gold expected to commence at the Davyhurst project in May, followed by mining at Monarch’s Mt Ida project in July 2007.

 

“We are focussed on meeting our production target and taking Monarch from explorer to producer, with a goal of becoming a 500,000 ounce per annum producer by end of 2009,” Mr Kiernan said.

 

“We are now on the cusp of production at Davyhurst, with the mill to start-up in mid-July with head grade of 5.3g/t Au, and the first gold to be poured in late July. At our recently acquired Mt Ida asset, the first ore is expected to be mined in late July.”

 

“We have a twelve month production target of 125,000 ounces from these two projects.”

 

“An aggressive exploration program is also underway that will add longer term value for shareholders,” Mr Kiernan said.

 

For further information, please contact:

 

Dubai:

 

Mohammed Aly Sergie
Gulf Hill & Knowlton

direct: +971 4 4055 617

mobile: +971 50 654 9217
mohammed.aly.sergie@hillandknowlton.com

 

Australia:

 

Michael Kiernan                                                           Warrick Hazeldine

Executive Chairman - Monarch Gold                           Purple Communications

Tel: 08 9481 6422                                                         Tel: +61 (0)8 9485 1254                                                                                                                                                                        Mob: +61 (0) 417 944 616

                                                                                    whazeldine@purplecom.com.au         

 

Background

 

Monarch Gold Mining Company was formed and listed on the ASX in 2002 by a group of experienced Australian mining executives.

 

The Company has a resource base of more than 2.4 million ounces, two state-of-the-art gold treatment plants, and has dominant ground positions in the prolific gold mining region to the north-west of Kalgoorlie.

 

Since November 2005, Monarch has laid the foundations for its growth as a mid-tier Australian gold production company. It acquired the Davyhurst Gold Project in November 2005, and in 2006 reached agreement with Gindalbie Metals to acquire the Minjar gold projects 500km north-east of Perth. Monarch also completed a merger with Siberia Mining Corporation Limited in 2006, which provided access to Siberia 1.2 million ounce resource base, and the largest Australian-controlled ground position in the Kalgoorlie region. Monarch also has the ground package surrounding the historic Bellevue Gold Mine near Leinster.  In March 2007, Monarch acquired the rich Mt Ida project, located within the 120 kilometres of Monarch’s Davyhurst Mill, from International Goldfields Limited.

 

Growth Strategy

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

Davyhurst - gold resources of over 2m oz within a 2,000 sq km tenement package and 1.2mtpa gold processing facility (+1.2Moz historic production).

Mt Ida - resources are stated as 143,000t at 24.0 g/t containing 110,650 ounces of gold within three areas - the Baldock, Whinnen and Meteor deposits, adjacent to the historic Timoni underground gold mine which produced 265,000oz of gold. Monarch will commence 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’ premier gold operations (750,000oz historic production).

 

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

 

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

 

So far as it relates to ore and mineralisation, 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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monarch’s Project locations:

 

 

 

 

 

 

***

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

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CODE : SWA.AX
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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.

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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
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