Creasy never stands stillRobin Bromby | June 09, 2009Article...

Creasy never stands still

Robin Bromby | June 09, 2009

Article from: The Australian
FOR years he has been known as "legendary prospector Mark Creasy" because of the achievement of finding the fabulous Bronzewing gold deposit in Western Australia.

But now perhaps we hacks should slip into a new lazy habit and just call him “legendary company builder Mark Creasy”.

The immensely rich Creasy can’t stop.

Apex Minerals is one of the his current playthings, with Creasy owning around 10 per cent. With ex-LionOre Australia boss Mark Ashley in the MD’s office, Apex has turned around the gold operations at Wiluna, Western Australia that were previously revived by the now gone Agincourt Resources. The news this morning from Wiluna is everything seems to be working like clockwork, with the mine producing 10,000 ounces of gold in May, the second consecutive month it has met its target since the recent ramp-up.

Now Creasy is turning his attention to Croesus Mining , the troubled former gold producer in which he owns 45 per cent since the former owners threw up their hands and walked away. Croesus is to be revamped as nickel play and renamed Sirius Resources. Creasy is transferring 70 per cent stakes in three nickel properties he holds. One, the Collurabbie venture, covers the northern extension of the Olympia nickel-copper-platinum discovery owned by BHP Billiton . The other properties are Fraser Range, south of the Tropicana gold discovery owned by AngloGold Ashanti and Independence Group, and the Youanmi base metals project (although with Creasy retaining the vanadium, titanium and magnetite rights).

Sirius will raise between $5 million and $7m through a private placement to clients of Blackwood Capital. This boutique Sydney brokerage has been extremely busy of late. It is also involved in the $10m raising by Forte Energy, the $6m tin rattling by Manas Resources as well helping Integra Mining and Oropa with their fund raising.

Incidentally, Ausralian investors will soon have the chance to again have a stake in the operating Norseman mine in Western Australia once owned by Croesus. Its new owner, London-listed Norseman Gold, is raising $9m here to dual list on the ASX.