well u like ann ?? confirmation Just confirmation of what 'we' already knew. Will earn GLN a few bob whilst they sort out the rest of the deposits.
Gleneagle confirms feasibility of Fortnum gold project
11:03, Wednesday, 22 March 2006
Sydney - Wednesday - March 22: (RWE Aust Business News) -
Gleneagle Gold Ltd (ASX:GLN) has completed the feasibility study into the
resumption of gold production at Fortnum gold project, Western Australia.
The study, based solely on open pit deposits, has confirmed a
robust operation with an initial mine life of approximately three years
producing 156,000 ounces.
Production is to be sourced from the Toms, Yarlarweelor and
Horseshoe deposits supplemented with feed from satellite deposits within
close proximity of the Fortnum treatment plant.
Gold production is scheduled to start in mid 2006.
Pre production capital has been confirmed at $3.3m with a nine
month payback.
The shares were up 0.5c to 28c.
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