The Ballarat Gold Mine was taken over by Castlemaine Goldfields and Matt took over as CEO in 2010. Delisted 2012 when taken over by LionGold Corp a Singapore Co. Currently you could call it the Golden Point Group Pty Ltd, owned subsidiary of Shen Yao Holdings Ltd. It was placed into adminstrator last week.
"A lack of tailings storage at the Ballarat mine will come as no surprise to Singapore market regulators, who regularly asked Shen Yao in 2021 to clarify how much tailings storage capacity was available amid concerns a lack of storage could be a limiting factor on the mine.
Shen Yao executive director Yao Liang assured the regulators on November 18, 2021, that “there is currently sufficient capacity of tailings storage facilities to cater to the operational needs of the group for the next two years”."
WRM Price at posting:
6.3¢ Sentiment: Hold Disclosure: Held
