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 19 mars 2008

MOVING FORWARD WITH MOUNT MAGNET

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

 

MEDIA RELEASE                                                                

 

19 March 2008                                                                      

MONARCH MOVING FORWARD WITH MOUNT MAGNET

 

Monarch Gold Mining Company (ASX /DIFX:MON) is well advanced with arrangements for the recently announced the acquisition of the Mount Magnet Gold Operations project, and will hit the ground running with its exploration and optimization activity when it takes possession next month.

 

Monarch announced the acquisition of the project, which includes the historic Hill 50 mine, from Harmony Gold Mining in November last year and will take possession on 1 April 2008. The purchase process is due for settlement on 30 June 2008.

 

The $65 million purchase price included a $30 million cash component, with $5 million already paid on signing, and $11 million to be funded through Environmental bonds.  The balance as previously announced will be equity ($20m) and convertible note ($15m).

 

Mount Magnet funding status

 

Cash component (A$30 million):              $19 million cash

                                                            $11 million Environmental bonds (to be bank funded)

 

Current Position:                                    $5 million paid

                                                            $14 million (outstanding)

 

Mt Magnet surplus asset sales               $5 million (expected)

 

Balance cash due 30 June 2008           $9 million

 

“We expect to yield A$5 million cash from the sale of surplus assets including a surplus ball mill, excess housing infrastructure, motor vehicles and non-core plant and spares.  This will leave Monarch to raise less than $10 million in equity to complete the Mount Magnet acquisition in June,” Mr Kiernan said.

 

“Despite capital and credit markets changing substantially in recent times, we believe the fundamentals of the project, including the strength in the gold market, make a compelling investment case,” Mr Kiernan said.

 

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

 

It is intended to put the Hill 50 mine on care-and-maintenance for up to two years, while the focus is on exploration activities.

 

“We have budgeted for a full year exploration program of $10 million,” he said.  “Drilling is due to commence in May on the most prospective advanced projects including the Galaxy ‘Big Pit’ concept.”  The higher gold prices will have a significant impact on resource modelling.

 

Monarch also intends to investigate the economic iron ore potential in the Mount Magnet area. A high level review including detailed magnetics and ground knowledge indicates potential for significant tonnages of iron formation. Further work is required to determine the economic potential.

 

“The Monarch Board is confident 2008 will be a strong year for an unhedged gold and bank debt free producer with exposure to the robust gold price.”

 

For further information, please contact:

 

Michael Kiernan                                                      Warrick Hazeldine

Chairman - Monarch Gold                                       Purple Communications

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

                                                                                Mob: +61 (0) 417 944 616   

 


Background

 

The Company has a resource base of more than five million ounces, three state-of-the-art gold treatment plants (Davyhurst, Minjar and Mt Magnet), 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.

 

Growth Strategy

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

Davyhurst Gold Project – Davyhurst Project gold resources of over 1.5 million ounces within a 2,000 sq km tenement package and 1.2mtpa gold processing facility (+1.2Moz historic production). First bullion was poured in August 2007.  Davyhurst Gold Project incorporates the Riverina Project - indicated and inferred gold resources totalling 1.64 million tonnes @ 3.8 g/t Au for 200,000oz and also the Mt Ida Project - 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.

Mt Magnet Gold Project – gold resource of 2.7 million ounces, a ground package of 330 tenements covering approximately 1,100 square kilometres and a 2.7mtpa capacity gold processing facility (+10 million ounces of current resources and past 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.

 

 

 

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 Gold Mining Company

Projects

 

 

 

 

 

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$-8,00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
7,05 AU$-0,84%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
7,04 US$-1,81%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
0,70 GBX-2,91%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,08 CA$-21,05%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
1,97 CA$+4,79%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
9,41 CA$+2,84%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,18 CA$-5,41%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
0,32 AU$+3,23%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
2,30 CA$+0,88%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
62,20 US$+1,58%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,03 AU$+12,00%Trend Power :