2011年3月24日澳洲股市：Paramount Mining (ASX:PCP)与Antam (ASX:ATM)签订重要煤矿协议
Perth, April 30, 2009 AEST (ABN Newswire) - At the end of the March quarter Exco Resources Limited (ASX:EXS)(PINK:EXRSF) has A$3.8m in cash, which ensures that the Company will remain adequately funded to achieve our key objectives for the foreseeable future.
In the current high gold price environment the Company is focused on expediting finance arrangements to allow development of the White Dam Gold Project, which has the potential to deliver substantial cash flow to Exco.
Highlights During The Quarter
WHITE DAM GOLD PROJECT, SOUTH AUSTRALIA
- Restructure of JV Agreement: Exco and Polymetals Group Pty Ltd have agreed the final structure of the Joint Venture for the White Dam Project. Polymetals will acquire a 25% interest and manage the implementation and operation of the project.
- White Dam MARP Approved: Exco has received approval for its Mining and Rehabilitation Programme (MARP) at White Dam from Primary Industry and Resources, South Australia (PIRSA). With the MARP approval in place, Exco and Polymetals will now progress to obtain an EPA works approval and license.
- Resource Update: The resource for the White Dam Deposit has been updated and now totals 7.59Mt @ 1.03g/t Au for 251,000oz contained (@0.4g/t cut-off), with 55% of the resource now in the Indicated category. Total resources for the White Dam Project (including the Vertigo deposit) now comprise 10.12Mt @ 1.04g/t Au for 338,000oz contained (@ 0.4g/t cut-off).
- Initial Reserve Defined: An initial probable reserve of 4.43Mt @ 1.04g/t Au for 149,000oz contained (@0.4% cut-off) has also been completed at the White Dam Deposit.
- Project Finance & Implementation Planning Underway: Discussions are well underway with a number of interested parties in relation to project finance. Exco and Polymetals are targeting first gold production in late 2009, or early 2010.
CLONCURRY COPPER PROJECT (CCP), NW QUEENSLAND
Cloncurry Copper Project Resources Grow to 51Mt: Total resources at the Cloncurry Copper Project now comprise 51Mt, containing 430,000 tonnes of Cu and 376,000 ounces of Au.
- Resources for the E1 Camp (Indicated and Inferred) have increased by 17% and now comprise 44.9Mt @ 0.76% Cu & 0.22 g/t Au (@ 0.3% Cu cut-off).
- The Monakoff and Monakoff East Deposits have been incorporated into a single resource which contains 4.0Mt @ 1.32% Cu & 0.42 g/t Au, of which 50% is classified as Indicated.
Environmental Impact Statement (EIS) for CCP: The EIS for the Cloncurry Copper Project (CCP) is scheduled for submission in the next quarter. Engineering details required for the environmental submissions have been completed including pit designs, detailed ground water assessments and tailings designs.
For the complete Exco Resources Quarterly Report, please see the link below;
http://www.abnnewswire.net/media/en/docs/60564-ASX-EXS-445076.pdf
Contact
Michael Anderson
Managing Director
Tel: +61-8-9211-2000
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