Open pit mining activities are now underway for our Mount Margaret Mining Project with first ore production expected during August 2012.
The project comprises the E1 and Monakoff copper tenements located 8 kilometres east and 21 kilometres south respectively of our Ernest Henry Mining operations.
We acquired the tenements from Exco Resources Limited in June 2011 for $175 million and are investing a further $124 million to develop the project through a series of small open pit mines. Ore will be trucked to Ernest Henry Mining where it will be processed through our existing concentrator facilities.
AOH Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
