D'Aguilar Gold Limited (ASX:DGR) Subsidiaries Barlyne Mining And Anduramba Molybdenum Appoint Ross Smith As Chief Executive Officer
Mr Smith has been appointed with the key initial responsibility of taking Barlyne and Anduramba to an IPO and/or listing on a recognised stock exchange. This would follow in the footsteps of fellow D'Aguilar Group companies AusNiCo Limited (ASX:ANW) (listing date 21 October 2010), and Navaho Gold (IPO currently being progressed).
Mr Smith has over 15 years capital raising and ASX-listed company management experience, and brings a wealth of international project and capital raising experience with him to the D'Aguilar Group.
Barlyne's business model is based on the development of a porphyry copper molybdenum mining company in South East Queensland. Barlyne holds four prospective copper molybdenum projects including Great Blackall, Calgoa, Peenam and Gayndah. All four of these prospective projects host drill intersections of copper molybdenum or copper gold mineralisation.
The most exciting of the Barlyne projects are the Great Blackall (Cu/Au/Mo) and Rawbelle (Cu/Au/Mo) prospects that co-join the tenements hosting Aussie Q Resources Ltd's (ASX:AQR) Whitewash and Gordons Copper/Molybdenum discoveries in Queensland. The Great Blackall system is exposed at several locations yielding high molybdenum results in a porphyry intrusive complex over 16km2.
Anduramba has a JORC compliant total resource of 31.6M ton at 0.6% molybdenum equivalent (Mo Eq); indicated 21.0M tonnes and inferred 10.6M tonnes at a cut-off grade of 0.03% Mo Eq. Pre-feasibility cash-flow analysis indicates the Anduramba project is cash-flow positive at Mo prices greater than US$15/lb. Mo. London Metals Exchange cash seller & settlement price as at 14 September 2010 quoted at US$16/lb. Mo. The Board continues to reassess the commercial options for Anduramba.
For the complete D'Aguilar Gold announcement including footnote regarding estimation and metal equivalents assumptions, please refer to the following link:
About DGR Global Limited
DGR Global (formerly D’Aguilar Gold Limited) (ASX:DGR) is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
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