CROESUS MINING NL 2003-05-07 ASX-SIGNAL-GHOMEX - Perth...

CROESUS MINING NL 2003-05-07 ASX-SIGNAL-G

HOMEX - Perth

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After 17 years of operation of the Hannan South treatment plant, the
Directors of Croesus Mining have decided to offer for sale the Hannan
South and Binduli Operations.

An Information Memorandum on Hannan South and Binduli will be sent to
potential buyers shortly.

All assets are located within 20 kilometres of Kalgoorlie and
include:

* A 131 square kilometre landholding, comprising 99 granted
tenements. Of this area, 47 square kilometres comprises granted
mining leases.

* Past production in excess of 400,000 ounces of gold, with over
700,000 ounces of gold remaining in resources.

* Tenements that are presently subject to exploration joint ventures
with two of the world's premier gold mining houses.

* The fully operational, 600,000 tonnes per annum processing plant at
Hannan South that has been well maintained and has a history of low
operating costs.

* A 750,000 tonnes per annum hard rock crushing facility located at
Binduli.

The Hannan South & Binduli assets, which no longer fit the corporate
profile for Croesus, are being offered either as a single, integrated
project, or for separate sale.

For further information please contact:

Graeme Smith
COMPANY SECRETARY
(08) 90 91 2222

I wonder what plans they have for their growing pile of cash????