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, Update for Ballarat Gold Project
14 Jun,2012 08:26 AM

Australian gold explorer and producer Castlemaine Goldfields Limited (ASX Code:CGT) provides an update for the two months ending May 2012.

Highlights:-

- Mine production ramp-up continues with 26,021 tonnes processed in April and May, at a gold grade of 7.1 g/t Au. This is a doubling of the monthly throughput rate when compared to the March Quarter performance (the 3 months ending March 2012 achieved 18,279 tonnes processed at a gold grade of 9.0 g/t Au).

- 5,054 ounces of gold were recovered in April and May (the 3 months ending March recovered 4,610 ounces of gold).

- The first pass diamond infill drill program focussing on the Mako-in-Britannia Exploration Target1 has been completed. 56 holes were drilled for 4,740 metres. Core logging, assaying and geological interpretation is continuing.

- An all scrip take-over offer by LionGold Corp of Singapore was received in April and has been unanimously recommended by the Castlemaine directors in the absence of a superior proposal.

- LionGold’s Bidder’s Statement was lodged with ASIC on 13 June. Castlemaine’s response – its Target’s Statement – will be lodged by the end of June and posted to shareholders shortly thereafter.

- A share placement of 33.9M shares was made to LionGold in April, raising $3.9M for Ballarat and regional exploration activities, and

- $15.6M cash on hand as at 31 May 2012 (was $12.8M end March 2012).


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