a few quotes summarised from the acquisition document:
CGT to identify drill targets accessible from existing tunnelling at depths of 400m to 500m with the closest targets some 160m away
acquisition of existing gold mine with ~18 km of underground development, a fully commissioned mill, reverse osmosis plant (for water recycling), state-of-the-art laboratory, supporting infrastructure, plant and equipment, property title, stores inventory and all licences
Castlemaine personnel have extensive knowledge of regional and local geology [we knew that!]
potential to process ore recovered from CGT's existing projects near Chewton
potential to utilise mining equipment for both Ballarat and Chewton areas
CGT required to finance the existing A$4.1m rehabilitation bond over the Ballarat Gold Project [money lodged in the bank effectively]
LGL's production numbers for Ballarat: 105kt at 4.3g/t to produce 13,414oz, including September at 9.6g/t, October at 8.3g/t, November at 7.9g/t
the acquired assets include the 600 ktpa processing plant, the Golden Point ventilation shaft and extensive surface infrastructure
best of all quote: CGT intends the "Use of selective mining methods to minimise dilution"
Add to My Watchlist
What is My Watchlist?