Yay, an update..TCG.....Company Update and SPP closes, A1...

Yay, an update..

TCG.....



Company Update and SPP closes,

 A1 Minerals? newly formed Board unites and is undertaking technical reviews of company?s operations and resources
 Recent Share Purchase Plan (SPP) closes and raises $0.7m cash
On Monday A1 Minerals announced John Williams had resigned as Managing Director and announced the appointment of three new directors.
The Board wishes to assure shareholders that operations at its BrightStar gold project are running efficiently and in line with company expectations. Technical director Bill Hobba is onsite supervising operations. Gold pours continue on a weekly basis.
Gold Production forecasts remain in line with forecasts and are summarised below:
 Plant throughput is operating robustly at designed capacity of 300 ktpa
 Feed grades are increasing and currently between 2.5 & 4 g/t
 Fine Gold produced is increasing month by month and should achieve target (2,500 oz per month) by the end of the quarter
 Steady state costs are estimated to be under $700 per oz
The Board is currently reviewing all operations.
A review of resources and reserves is being undertaken by Roger Mason of ResComp consulting. Mr Mason is an experienced geologist who has held exploration management positions, with his last being General Manager-Geology for Norilsk Nickel Australia. His latest consulting assignment was managing the geological-related components for the Randall?s gold project feasibility study for Integra Mining Ltd.
A mine operations review will be carried out by experienced mining engineer Andrew Grubb from the Optiro mining consultancy. New director Rick Stroud is a partner in that consultancy. Mr Grubb will be working with mining consultant Glen Williamson who has worked for A1 in the past and will also liaise with new technical director Bill Hobba.
Representatives of the new board have met with the mining contractor WATPAC who remains committed to the project and is supportive of the Board's initiatives to improve production and operational efficiencies
The company?s recent Share Purchase Plan closed on Monday and raised $0.7m. In light of recent share prices, the Board is happy with the outcome and thanks its shareholders for participation.
The new A1 Minerals Board and staff are working to ensure the future of the company.
Yours sincerely,
Albert Longo