ASX Code CDG
Quoted shares 175.8 million
Unlisted options (20c) 34.8 million
Board and ManagementChairman - Donald C. Bailey
Managing Director - David Mendelawitz
Finance Director - Aaron Finlay
Non-Exec Director - Jim Williams
Non-Exec Director - Russell Scrimshaw
ContactHead Office
Cleveland Mining Company Ltd. Suite 3, Level 1, Rokeby Centre,
254 Rokeby Road
Subiaco WA 6008
T: +61 (08) 6389 6000
F: +61 (08) 6389 6099
E: info@clevelandmining.com.au
Investor & Media Enquiries
PERTH, AUSTRALIA, 22nd November, 2012: Cleveland Mining Company Ltd. (ASX: CDG) is pleased to announce that commercial mining and processing of ore has now started at the Premier Gold Mine in central Brazil.
The Phase I gravity plant operates at up to 40 tonne per hour (tph). The Company is now working on Phase 2, which will involve increasing throughput to 80tph and improving recoveries by adding a CIL circuit and second ball mill. It is anticipated that Phase 2 will produce around 40,000 ounce per annum, starting in 2013.
Cleveland Mining Managing Director, David Mendelawitz, said that it was pleasing to see both mining and processing operations working towards full capacity.
"Mining and crushing has continued over the past month and several more gold ingots were struck while commissioning the plant with historical tailings material. With ore now being processed, we are looking forward to the first commercial gold pour," said Mendelawitz.
"Cleveland now joins the ranks of the few Australian companies that have commenced gold production in Brazil. The Company is looking to capitalise on this excellent start by increasing our resource base and production levels."
With cash flows from the sale of gold imminent, Cleveland plans to start drilling from December 2012 or January 2013. This campaign will aim to extend the Premier resource along strike, which currently remains open.
T: +61 417 18 1990
E: investors@clevelandmining.com.au
ACN: 122711880