Quarterly Activities and Cashflow Report
Perth, Oct 30, 2014 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is an exploration Company developing several gold discoveries in the Central Desert region of the Northern Territory of Australia.
The Company has a multi-tiered approach to exploration and development with a combination of high-grade potentially short-term production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project.
In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
ABM's Development Plan & Production Guidance for Old Pirate High-Grade Gold Deposit (refer release 30th September, 2014).
Production guidance for the first full year of mining, assuming processing at the Coyote Gold Plant, is:
- Ore to be mined and processed: ~150,000 tonnes
- Estimated head grade: 11g/t to 13g/t gold
- Estimated production: 50,000 to 60,000 ounces of gold recovered
- Operating costs: $690 to $790 per ounce of gold recovered
- Initial capital costs: $4.6M + $2M lease payment for plant post commissioning
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-697455.pdf
About ABM Resources NL
ABM Resources (ASX:ABU) is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
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