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Sydney, May 28, 2010 (ABN Newswire) - FINANCE VIDEO: Vantage Goldfields Limited (
ASX:VGO) CEO, Mike McChesney Talks To Brian Carlton On South African Gold Projects at Symposium Sydney.
Vantage Goldfields Ltd is the parent company of Eastern Goldfields SA (EGSA), a corporation registered under the laws of the Republic of South Africa. EGSA owns the controlling interest in Eastern Goldfields Ltd ("EGL"), the Group's South African operating company. EGL, as well as its four subsidiary companies, namely, Makonjwaan Imperial Mining Company ("MIMCO"), Eastern Goldfields Exploration ("EGE"), Centurion Mining Company and Barbrook Mines Ltd, hold various prospecting as well as mining rights for the Lily Mine and the Barbrook Mine.
The company's main area of business is that of gold production and gold exploration and project development. The Company currently has Projects with total Mineral Resources of 4.38 million ounces (36.4 million tonnes at 3.75 grams per tonne), total Ore Reserves of 0.48 million ounces (4.8 million tonnes at 3.09 grams per tonne) and has typically produced approximately 10,000 ounces of gold per annum over the past five years. Vantage intends to increase annual production through the expansion and development of its three major Projects:
- Lily Project (85% owned reducing to 74%) - producing mine with Mineral Resources of 2.02 million ounces (22.3 million tonnes at 2.82 grams per tonne) and Ore Reserves of 0.48 million ounces (4.8 million tonnes at 3.09 grams per tonne).
- Barbrook Project (74% owned) - dormant mine currently on care and maintenance with extensive surface and below ground infrastructure with Mineral Resources of 2.00 million ounces (11.2 million tonnes at 5.56 grams per tonne).
- Worcester Project (74% owned) - dormant mine with Mineral Resources of 0.35 million ounces (2.8 million tonnes at 3.86 grams per tonne) and a planned Pre Feasibility Study.
The Vantage management team is conducting exploration programmes on its extensive portfolio of mineral exploration prospects, which are at various stages of investigation, in order to develop these mineral assets.
Expansion of production at the Lily Mine and plans to re-open the Barbrook Mine via underground operations and converting Mineral Resources to Ore Reserves over the next 3 years should enable Vantage to grow substantially as the Company progresses towards its goal of becoming a second tier gold producer.
View the video here:
http://www.abnnewswire.net/multimedia/en/62975/Vantage
ASX:VGO) CEO, Mike McChesney Talks To Brian Carlton On South African Gold Projects at Symposium Sydney.Vantage Goldfields Ltd is the parent company of Eastern Goldfields SA (EGSA), a corporation registered under the laws of the Republic of South Africa. EGSA owns the controlling interest in Eastern Goldfields Ltd ("EGL"), the Group's South African operating company. EGL, as well as its four subsidiary companies, namely, Makonjwaan Imperial Mining Company ("MIMCO"), Eastern Goldfields Exploration ("EGE"), Centurion Mining Company and Barbrook Mines Ltd, hold various prospecting as well as mining rights for the Lily Mine and the Barbrook Mine.
The company's main area of business is that of gold production and gold exploration and project development. The Company currently has Projects with total Mineral Resources of 4.38 million ounces (36.4 million tonnes at 3.75 grams per tonne), total Ore Reserves of 0.48 million ounces (4.8 million tonnes at 3.09 grams per tonne) and has typically produced approximately 10,000 ounces of gold per annum over the past five years. Vantage intends to increase annual production through the expansion and development of its three major Projects:
- Lily Project (85% owned reducing to 74%) - producing mine with Mineral Resources of 2.02 million ounces (22.3 million tonnes at 2.82 grams per tonne) and Ore Reserves of 0.48 million ounces (4.8 million tonnes at 3.09 grams per tonne).
- Barbrook Project (74% owned) - dormant mine currently on care and maintenance with extensive surface and below ground infrastructure with Mineral Resources of 2.00 million ounces (11.2 million tonnes at 5.56 grams per tonne).
- Worcester Project (74% owned) - dormant mine with Mineral Resources of 0.35 million ounces (2.8 million tonnes at 3.86 grams per tonne) and a planned Pre Feasibility Study.
The Vantage management team is conducting exploration programmes on its extensive portfolio of mineral exploration prospects, which are at various stages of investigation, in order to develop these mineral assets.
Expansion of production at the Lily Mine and plans to re-open the Barbrook Mine via underground operations and converting Mineral Resources to Ore Reserves over the next 3 years should enable Vantage to grow substantially as the Company progresses towards its goal of becoming a second tier gold producer.
View the video here:
http://www.abnnewswire.net/multimedia/en/62975/Vantage
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About Vantage Goldfields Limited
Vantage Goldfields Ltd's (ASX:VGO) main area of business is that of gold production and gold exploration and project development. The Company currently has Projects with total Mineral Resources of 4.38 million ounces (36.4 million tonnes at 3.75 grams per tonne), total Ore Reserves of 0.48 million ounces (4.8 million tonnes at 3.09 grams per tonne) and has typically produced approximately 10,000 ounces of gold per annum over the past five years.
Expansion of production at the Lily Mine and plans to re-open the Barbrook Mine via underground operations and converting Mineral Resources to Ore Reserves over the next 3 years should enable Vantage to grow substantially as the Company progresses towards its goal of becoming a second tier gold producer.
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