Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Gascoyne Resources Ltd    GCY   AU000000GCY6

GASCOYNE RESOURCES LTD (GCY)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

Gascoyne Resources Limited : - Dalgaranga Construction Update 3 Months to First Gold

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/16/2018 | 03:24pm CET

Gascoyne Resources Limited ('Gascoyne' or 'Company') (ASX: GCY) is pleased to provide an update on construction activities at the Company's Dalgaranga Gold Project, which contains a Measured, Indicated and Inferred Resource of 31.1Mt @ 1.3 g/t for 1,320,000 ounces of contained gold, which is inclusive of Proved and Probable Ore Reserves of 15.3Mt @ 1.3 g/t for 612,000 ounces of gold.

Process Plant Construction Update

GR Engineering (GRES) has progressed significantly with the design, engineering and construction of the 2.5Mtpa Dalgaranga Processing Plant. Design and engineering is complete and construction is well advanced with completion expected in around 3 months approximately 1 month ahead of schedule.

Construction of the project has progressed ahead of the original schedule, and will now see commissioning and first gold production in May 2018. To date the following activities have been undertaken within the process plant

Concrete and civil works have been completed.

SAG mill installation is well advanced.

The Crusher and ROM bin have been delivered to site and installation is underway.

CIL tank erection is complete.

Steel erection on Site is nearing completion.

The Elution and gold recovery circuit installation has progressed on schedule with electrical cabling and terminations underway.

Reagent storage area has been completed with the final electrical and piping connections underway.

Water services area is nearing completion, including reverse osmosis treatment plant, fire system, raw and process water pumps. Electrical and instrument installation is almost complete with commissioning of this portion of the plant scheduled for late February.

Power Station Construction Update

The Zenith power station and the EVOL LNG fuel storage facility construction is advancing on schedule. Construction of the engine hall and main power control room has progressed significantly in the last month. The backup diesel generators have arrived in Perth and the Jenbacher gas generators have been built and are en route to Australia with delivery to site scheduled for March, with commissioning in late April. The LNG fuel storage tanks are currently being delivered to Site and are expected to be filled and operational in mid April, in preparation for power station commisioning in late April and the process plant commissioning in May.

Mining Contractor Mobilisation and Site Establishment

The Mining Contractor (NRW) has commenced site establishment and mobilisation of the mining equipment. To date one of the excavators, a number of trucks and ancillary mobile equipment has been mobilised. NRW are on schedule to commence mining in early March. As part of the mining contract, NRW have purchased a number of new truck trays that will increase the payloads of the trucks and improve efficency. A number of these new trays have been fabricated and are scheduled to arrive on site in the next few weeks.

Airstrip Construction

Adjacent to the 240 person Dalgaranga village, a dedicated airstrip has been built to accommodate charter planes for the FIFO operation. The airstrip is almost complete and will allow direct flights to site from March 2018.

BACKGROUND ON GASCOYNE RESOURCES

Gascoyne Resources Limited was listed on the ASX in December 2009 and is focused on exploration and development of a number of gold projects in Western Australia. The Company's 100% owned gold projects combined have over 2.3 million ounces of contained gold on granted Mining Leases:

DALGARANGA

The Dalgaranga project is located approximately 65km by road NW of Mt Magnet in the Murchison gold mining region of Western Australia and covers the majority of the Dalgaranga greenstone belt. After discovery in the early 1990's, the project was developed and from 1996 to 2000 produced 229,000 oz's of gold with reported cash costs of less than $350/oz.

The project contains a JORC Measured, Indicated and Inferred Resource of 31.1 Mt @ 1.3 g/t Au for 1,320,000 ounces of contained gold. The Dalgaranga project has a Proved and Probable Ore Reserve of 612,000 ounces of gold. The Ore Reserves are included in the Mineral Resource. The FS study that has been completed has highlighted a robust development case for the project. The FS investigated the development of two open pits feeding a 2.5 Mtpa processing facility resulting in production of around 100,000 ozpa for 6 years and concluded that the operation would be a low cost, high margin and long life operation with high operating margins. Significant exploration potential also remains outside the known resources with numerous historical geochemical prospects only partly tested.

GLENBURGH: The Glenburgh Project in the Gascoyne region of Western Australia, has a Measured, Indicated and Inferred resource of: 21.3Mt @ 1.5 g/t Au for 1.0 million oz gold from several prospects within a 20km long shear zone A preliminary feasibility study on the project has been completed that showed a viable project exists, with a production target of 4.9 Mt @ 2.0 g/t for 316,000 oz (70% Indicated and 30% Inferred resources) within 12 open pits and one underground operation. There is a low level of geological confidence associated with inferred mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that the production target itself will be realised. The study showed attractive all in operating costs of under A$1,000/oz and indicated a strong return with an operating surplus of A$160M over the 4+ year operation. The study included approximately 40,000m of resource drilling, metallurgical drilling and testwork, geotechnical, hydro geological and environmental assessments. Importantly the study has not included the drilling completed during 2013, which intersected significant shallow high grade zones at a number of the known deposits.

EGERTON

The project includes the high grade Hibernian deposit and the high grade Gaffney's Find prospect, which lie on a granted mining leases Previous drilling includes high grade intercepts, 14m @ 71.7 g/t gold, 34m @ 14.8 g/t gold, 8m @ 11.4 g/t gold, 2m @ 147.0 g/t gold, and 5m @ 96.7 g/t gold associated with quartz veining in shallow south-west plunging shoots. The Hibernian deposit has only been drill tested to 70m below surface and there is strong potential to expand the deposit with drilling testing deeper extensions to known shoots and targeting new shoot positions. Extensions to mineralised trends and new regional targets will be tested with Aircore during drilling campaigns.

Gascoyne is developing the 100% owned low capex, high margin Dalgaranga Gold Project which is on schedule to be in production late in the second quarter of 2018, while continuing to evaluate the near term 100% owned Glenburgh Gold deposits to delineate meaningful increases in the resource base and progress project permitting. Exploration is also continuing at the 100% owned high grade Egerton project; where the focus has been to assess the economic viability of trucking high grade ore to either Glenburgh or to another processing facility for treatment and exploration of the high grade mineralisation within the region.

Contact:

Tel: +61 8 9481 3434

Fax: +61 8 9481 0411

Email: [email protected]

(C) 2018 Electronic News Publishing, source ENP Newswire

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GASCOYNE RESOURCES LTD
02/16GASCOYNE RESOURCES LIMITED : - Dalgaranga Construction Update 3 Months to First ..
AQ
02/02GASCOYNE RESOURCES : Executes Long Term LNG Supply Agreement
AQ
02/02GASCOYNE RESOURCES LIMITED : - December 2017 Quarterly Activities Report
AQ
01/31GASCOYNE RESOURCES : Executes Long Term LNG Supply Agreement
PU
01/18GASCOYNE RESOURCES LIMITED : - Commencement of 75,000 Metre Exploration Drill Pr..
AQ
01/08GASCOYNE RESOURCES LIMITED : - Dalgaranga Construction Update
AQ
01/03GASCOYNE RESOURCES : - arrival of the dalgaranga gold project sag mill
AQ
01/03GASCOYNE RESOURCES : Dalgaranga SAG Mill Delivery
PU
01/02GASCOYNE RESOURCES : Appendix 3Z – Final Director’s Interest Notice
PU
01/02GASCOYNE RESOURCES : Release of Restricted Securities
PU
More news
Financials ( AUD)
Sales 2018 16,0 M
EBIT 2018 -10,9 M
Net income 2018 -11,7 M
Debt 2018 4,00 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 12,9x
EV / Sales 2019 1,02x
Capitalization 202 M
Chart GASCOYNE RESOURCES LTD
Duration : Period :
Gascoyne Resources Ltd Technical Analysis Chart | GCY | AU000000GCY6 | 4-Traders
Technical analysis trends GASCOYNE RESOURCES LTD
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 0,86  AUD
Spread / Average Target 85%
Managers
NameTitle
Michael Dunbar Managing Director & Director
Rodney Michael Joyce Non-Executive Chairman
David J. Lim Chief Financial Officer & Joint Secretary
Graham Douglas Riley Independent Non-Executive Director
John J. den Dryver Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GASCOYNE RESOURCES LTD9.41%158
NEWMONT MINING CORPORATION3.94%20 859
SAUDI ARABIAN MINING COMPANY (MA'ADEN)--.--%16 078
BARRICK GOLD CORP-12.34%15 350
NEWCREST MINING LIMITED1.01%13 483
POLYUS PAO--.--%10 640