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CASTLEMAINE GOLDFIELDS LIMITED - ASX: CGT
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Description
Castlemaine Goldfields Limited (CGT) holds substantial exploration and mining licences over four prominent and complete goldfield provinces in Central Victoria, comprising Ballarat, Castlemaine, Tarnagulla and Sebastian. The acquisition of the Ballarat project in May 2010 for a cash consideration of $4.5m and a royalty obligation capped at $50m has transformed the company.
Approximately $30m of equity has been raised to fund the acquisition, conduct exploration and with success, return the Ballarat mine to production. The company is targeting an annual gold production rate of approximately 50,000 ounces. A 686,000 ounce Inferred Resource was released for the Chewton/Wattle Gully project at Castlemaine in 2008. The corporate office has been relocated to the Ballarat Gold Project located at 10 Woolshed Gully Drive, Mt Clear on the southern side of Ballarat.
Mine For
gold
Location of operation(s)
Victoria
Address
113 Adelaide Street
CHEWTON, VIC, AUSTRALIA
Phone
(03) 5472 3411
Website
Last Updated
3/5/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
