Castlemaine Goldfields Limited (CGT) is a successful gold explorer and producer with five significant goldfields in Victoria's gold belt. CGT’s primary focus is the high-grade underground gold mine in Ballarat, which started producing gold in September 2011.

 
Castlemaine Goldfields holds significant exploration titles across five substantial goldfields in Central Victoria, giving the Company access to two of the three largest historical gold producing areas (17M oz total). CGT has 100% interest in the Ballarat, Castlemaine, Tarnagulla, Berringa Goldfields, and is farming out exploration on its 100% owned Sebastian and Raydarra project.
 
The company is hedge free, debt free and fully operational. The Company is building its gold production to an annualised rate of 50,000oz pa. Production at Ballarat will be supplemented by near mine potential and CGT’s regional Victorian targets.
 

Castlemaine Goldfields Limited (ASX:CGT)

Company Directors

Mr Drew Henry (Non Exec. Director)
Mr Gary Scanlan (Non Exec. Chairman)
Mr Matthew Gill (Managing Director, CEO)
Mr Peter McCarthy (Non Exec. Director)
Mr Peter R Lester (Non Exec Director)

Contact Information

Phone: (03) 5327 2555
Website: http://www.cgt.net.au/
Address
10 Woolshed Gully Drive, MT CLEAR, VIC, Australia, 3350

Media Releases see all media releases

Castlemaine Goldfields Ltd, Activities Report for Quarter Ending 30 June 2012
25 Jul,2012 09:32 AM


HIGHLIGHTS

Ballarat Mine Performance:-

- Quarterly gold production was 9,336 ounces from the processing of 46,518 tonnes at a gold grade of 9.2 g/t Au.

- Underground mine development achieved 643 metres for the quarter, with 85% of this occurring in ore.

- The strong mine production ramp-up to its stated target rate of 220,000tpa was achieved from the establishment of eight working headings within the high-grade Mako and Tiger Lodes in the Llanberris compartment, complemented by the successful application of narrow vein up-hole mining techniques in two stopes.

- The Cash Operating Cost per Ounce1 was $569/oz and the Total Production Cost per Ounce was $1,002/oz for the quarter.

- $12.2M was received from the sale of 7,752 ounces of gold bullion, at an average spot price of A$1,575 per ounce. Cash on hand as at June 30 2012 was $18.5M, inclusive of the $3.9M capital raising in the quarter.

- The Llanberris Mako JORC Inferred Mineral Resource3 has been updated to 163,000 tonnes at 9.0 g/t Au for 46,000 ounces.

- Exploration success continued within the Britannia compartment with resource estimation in progress.


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