This is the announcement I have been waiting for and should...

This is the announcement I have been waiting for and should hopefully be a catalyst to send the share price a lot higher...

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"Castlemaine Goldfields Limited (ASX:CGT) announces the decision to take the Ballarat Gold Project in Victoria, Australia, forward, following the successful drilling campaign over the previous 7 months, and the completion of a Mining Feasibility Study."

"This drilling campaign met with early success, and this has continued throughout the program. To date, 13,700m of the anticipated 14,000m program has been drilled, ahead of schedule and under Budget. Previous ASX announcements have described these results over time."

"Based on certain assumptions, including a conservative gold price of A$1,100 per ounce, and estimated tonnages available from these resource targets, at an average gold grade of 7.5g/t mined, a positive cash flow is generated with a robust NPV."

"What is also significant is that this study indicates a possible start to mine development in the first Quarter of next year, which if so could see gold production able to be brought forward to as early as Quarter 3, 2011."
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Would be interested to see more detail around the estimated production/cost figures they mention above.