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DOMINION MINING LIMITED - ASX: DOM
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Description
Dominion Mining Limited is a publicly listed Australian gold producer and explorer, with a high-margin gold mine in South Australia and a suite of prospective exploration projects spanning three Australian States.
Dominion's key asset is the 100%-owned Challenger Gold Mine located in South Australia, which has been in production since October 2002, initially as an open pit operation before subsequently transitioning to full-scale underground production in early 2005. To the end of June 2008, a total of 467,880 ounces have been produced from Challenger at an average operating cost of $340/oz. The current ore reserves are sufficient to underpin a 7-year mine life based on current annual production levels of around 100,000 ounces.
Investment in exploration remains an integral part of the Company’s strategy for growth, with a total of $14.07 million of expenditure in the 2009 financial year. A major proportion of this investment ($9.02 million) continued to be focused on programs designed to define additional oresupply for the Challenger Gold Operation. The cost effectiveness of these programs can be easily measured in terms of the additionalresource and reserve ounces defined, with resources being added at an exploration cost of $19 per ounce. Elsewhere, exploration programs and strategies designed to create a pipeline to new mine developments are higher risk and more difficult to evaluate. All projects continue to be rigorously assessed, and an ongoing search for new projects is a fundamental strategy.
Mine For
gold, nickel, minerals sands, copper
Location of operation(s)
Queensland, Western Australia, South Australia
Address
15 Outram St
West Perth, WA, AUSTRALIA
Phone
(08) 9426 6400
Website
Last Updated
23/04/2010
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.