Tuesday 18 June, 2013

Operational Update

Shipment of copper cathode started during the first week of June 2013.

Since commissioning in August last year, the Benkala SX-EW plant has produced more than 1,000 tonnes of LME Grade A copper-cathode and the Company has shipped and sold approximately 953 tonnes.

Construction of four additional leach pads has commenced, bringing the total number of pads up to six.

Implementation of optimisation studies on the agglomeration, stacking and leach kinetics continue, which will result in increased rate of extraction.

Work continues to produce a JORC compliant resource at South Benkala.

Further technological studies and exploration drilling has been undertaken at Baitemir, incorporating trenching and geophysics, so that the Company can gain further understanding of the resource.

The full dataset will be sent to Wardell Armstrong International to compile an independent JORC compliant resource.

The Company has also continued assessment of the Beschoku deposit to further determine its potential as a satellite feeder for proposed facilities at Baitemir.

The Company looks forward to updating the markets regarding both projects in the near future.



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