Sitz u. Pits in Australia (Goldminen)

Norseman Operations Returns Record Ore Reserve
============================================

Mike Ivey


Croesus Mining reported today that a two year program of surface and underground exploration has been successful in achieving the highest ore reserve position for Norseman operations in their 70 year history.

Ore reserves at Norseman now total 2.2 million tonnes at 6.9 grams per tonne gold for 488,000 ounces and the Norseman resource has increased to two million ounces of gold.

Central Norseman ore reserves have increased by 57 percent since Croesus acquired the operations in 2002. Croesus has replaced the 327,000 ounces of gold produced since 2002 and added a further 178,000 ounces of reserve giving newly defined reserves of 505,000 ounces achieved at a cost of 536 per ounce over the past two and a half years.

Croesus managing director Mike Ivey said: "The ore reserve position gives us about four years production but we have numerous drill results, underground development and geological targets outside the current reserve boundary and we feel very confident that we can increase the ore reserves beyond these record levels.

“Our exploration and mining teams have done a great job over the previous two years but still have plenty of targets to test. Norseman operations look set to continue for a long time yet."

Croesus reported a number of high-grade intercepts that are situated outside the current ore reserve boundary demonstrating the additional outstanding potential of the Norseman goldfield.

- 26 Jul 2004

Exotisch: Sitz Austral. und Pits in China; gerade drum ne Story

gogh

Mineweb vom 05.08.04

Sino to develop $70m China gold mine
=====================================

By: Peter Gonnella
Posted: '05-AUG-04 09:46' GMT © Mineweb 1997-2004

PERTH (Mineweb.com) -- Aussie-listed China gold miner Sino Gold [ASX:SGX], in which gold giant Gold Fields [JSE,NYSE:GFI] has an eight percent stake, has given the development go-ahead to the planned US$70 million high-grade Jinfeng project in the Guizhou Province.

Following the recent 50 percent upgrade in proved and probable open cut and underground reserves to more than two million ounces, Sino – currently the only overseas-based gold producer in China – today (Thursday) announced it had committed to the Jinfeng development of what is slated to become China’s second largest gold mine, behind Hong Kong-listed Chinese-based Zijin Mining’s Zijinshan operation in the Fujian Province.

Sino is hoping to start construction in early calendar 2005, pending government and mandatory approvals, with a view to commissioning about 12 months later.

It added that the material increase in reserves had helped to improve the project’s economics, with forecast average cash costs lowered by almost 10 percent (versus the bankable feasibility study estimate) to about US$183 per ounce, while the base-case scenario of projected annual output of 180,000oz from the treatment of 13.4 million tonnes of ore grading 5.4g/t over an initial mine life of 12 years and assuming a gold price of US$375/oz provides an ungeared IRR of 25 percent for 100 percent of the project (Sino holds an 82 percent interest but will fully fund the development).

Proposed financing of Jinfeng involves a US$40 million debt facility – which would have the effect of increasing the projected IRR to about 33 percent – currently being negotiated and CEO Jake Klein told Mineweb the balance of the capital cost would likely come from internal cash reserves, which have been boosted by an equity raising completed this year.

Klein is confident of further reserves expansion, with the overall Jinfeng resource (including reserves) standing at 3.5Moz. “There is enormous upside given the exploration successes we continue to have,” he said.

Jinfeng ore is refractory and Sino says it has chosen the bio-oxidation process (BIOX circuit) to treat a flotation concentrate prior to standard CIL leaching to recover the difficult to liberate gold. Expected gold recoveries are in the order of 85 percent.

Klein described the Jinfeng development as “a major milestone for the company”, which has produced 400,000oz of gold over the past six years at the Jianchaling mine in Shaanxi Province. It will also be a milestone, albeit a relatively small one, for Gold Fields – who shares other direct and indirect exploration interests with Sino – as Jinfeng will be the South African-based group’s first producing investment in China. Gold Fields executive vice president, Craig Nelsen, hinted at an Aussie conference last week that the company may look at lifting its Sino shareholding at some stage if the timing or opportunity was right.

"Refractory Ore" ist vor allem kostenintensiv,

weil aufwendige Verarbeitungsverfahren

notwendig sind (Heap Leaching usw.).


Deshalb kosten die Verarbeitungsanlagen

70 Mio Aus$ = 40 Mio US$


gogh

Sulfid und Oxid: da ist das Gold eine chemische Verbindung

eingegangen und nicht mehr "gediegen vorhanden".


Die Major-GM haben jede speziell angepaßte Verfahren

entwickelt, die chemische Verbindung "zu trennen"

um gediegenes Gold daraus zu gewinnen.

Eins haben die Verfahren aber gemeinsam;

sie sind aufwendig (viele Zwischenschritte

zuletzt heap leaching) und teuer.

(Heap Leaching wird auch bei gediegenen

Goldvorkommen angewandt, wenn es sich

um Erze mit geringen Goldgehalten handelt)


Manche kleinere Produzenten kriegen die

Verfahren garnicht in den Griff und gehen pleite

Das meint Dottore wohl mit "saugefährlich".


Gruss

gogh

Aussie-Juniors haben zuletzt die 3. Geige gespielt

meint dieser MineWeb-Aufsatz:

Junior Aussie gold stocks wilt
========================
By: Peter Gonnella
Posted: '07-OCT-04 09:37' GMT © Mineweb 1997-2004

PERTH (Mineweb.com) -- Gold stocks were the standout underperformers of an Aussie junior resources index over the past year.

According to the latest data compiled by respected Sydney-based independent research group Aegis Equities, after a spectacular run-up in the September 2003 quarter, junior gold companies played third fiddle to their diversified and petroleum counterparts in the 12 months ended 17 September 2004.

Since then the gold price has snapped out of its slumber and there has been a rallying in the share prices of some junior and emerging gold plays. However, Aegis’ just released “exploration review” of 66 Aussie-based companies showed a huge disparity in the sharemarket performance of Aegis’ explorers index's three core sector groups.

Aegis’ explorers index – which includes a few small cap producers and which represents the collective share price movements of 22 Aussie gold stocks, 26 diversifieds and 18 petroleums – jumped an eye-catching 60 percent in the 12 months cycle covered by Aegis’ review and 29 percent over the last three months of the same Aegis review period.

“It may have looked like it was all over in April 2004 when most stocks peaked, but following a pull-back in the June quarter the (junior resources) sector has continued to perform,” noted Aegis.

But, despite the boom resources market and the index’s turnaround in the September quarter, the gold sector wilted. It actually dipped nine percent year-on-year (yoy), while the petroleum sector, buoyed by the record oil price, rose 58 percent yoy and the diversifieds (mainly base metals) soared 126 percent yoy with all three registering similar trends for the September quarter.

African uranium hopeful Paladin Resources [ASX:PDN], which is carrying out a bankable feasibility study into the possible development of the Langer Heinrich project in Namibia, is enjoying Canadian investor support and took the cake as the biggest mover for the reported 12-month period, with its shares skyrocketing almost 2900 percent from A$0.014 to A$0.41 (currently trading at A$0.54).

On the gold front, De Grey Mining [ASX:DEG] led the way on the back of the Wingina Well discovery in Western Australia which saw the stock appreciate a handsome 219 percent to A$0.43 (currently A$0.455). It was the lack of significant gold discoveries together with a lack of gold price action (during the reported period) that contributed to the lacklustre result for the junior golds, Aegis analyst Peter Chapman told Mineweb.

In addition, he said “a lot of the share prices (of the junior golds) were coming off highs after running very hard” in the September 2003 quarter, when the sample gold collective posted a whopping 65 percent gain

[Blockierte Grafik: http://www.minebox.com/images/pow/whoops.jpg]

Das hat das Wolloby im Beutel 2005:

-Batavia

-Croesus

-Dominion

-Equigold

-Lihir

-Perilya

-Perseverance

-Santa Barbara

-Sino Gold

abwarten

etwas Metex MEE ist noch dazugekommen

[Blockierte Grafik: http://www.uni-koeln.de/phil-fak/thefife/home/vmm/film/ausstellungen/filmstills/nibelungen01.jpg]

Silly Sally buying food

[Blockierte Grafik: http://www.udanium.com/CHI2003/sally-buying-food.jpg]


Die Klitsche Batavia Mining könnt´s bringen. Dieses jahr 05.

Im Beutel des West-Austral.-Känguruh:

Verzehnfacher oder Insolvenz


Da der herr spricht: " Wenn ihr nicht werdet wie die Kinder..."

hat einer längst zugegriffen, nämlich


gogh

Zitat aus SIEGEL-Investment
======================

täglicher Bericht,

hier 17.01.04
===========

"Die australischen Minenwerte entwickelten sich heute morgen freundlicher.
Bei den Produzenten steigen Croesus 9,1 %,
Giants Reef 7,5 % und Sino Gold 6,8 %.

Bei den Explorationswerten ziehen Northern Gold 7,4 %, Nustar 6,7 %, Gindalbie 4,3 % und Austindo 4,0 % an.

Gegen den Trend fallen Oroya 6,5 % und Midas 4,6 %.

Bei den Basismetallwerten
kann Perilya erneut um 4,2 % auf 0,99 A$
==========
zulegen (vgl. Analyse vom 11.01.05).

Wichtigste Kurznachrichten:

Die australische Croesus meldet die Ausweitung der Goldreserven im
====================
Central Norseman Projekt auf das Rekordniveau von über 500.000 oz.

Die australische Giants Reef meldet Explorationsergebnisse von bis zu 60,0 g/t über eine Bohrkernlänge von 14 Metern.

Die australische Nustar
===================
meldet einen neuen Großaktionär, was auf eine

Übernahmeschlacht um Nustar hindeuten könnte. "