TRANSCRIPTION OF FINANCE NEWS NETWORK INTERVIEW WITH COMIISSIONERS GOLD LIMITED (ASX:CGU) MANAGING DIRECTOR, ROBERT MCCAULEY Clive Tompkins: Hello, Clive Tompkins reporting for the Finance News Network. Joining me today from Gold Explorer Commissioners Gold Limited
(ASX:CGU) is Managing Director, Rob McCauley. Rob, welcome back. Now please tell us about this exciting opportunity you have at Commissioners Gold and when do you expect to list on the ASX?
Rob McCauley: Firstly, thank you Clive and hello to all of your Finance News Network audience. Commissioners Gold has decided to extend its offer of shares at 20 cents to the 22
nd of July with an ASX listing expected soon after closing. This will be the last chance the public will have to purchase these shares for only 20 cents. The funds raised will give Commissioners Gold the opportunity to create additional value for shareholders by carrying out more of its work programs as outlined in the prospectus.
Clive Tompkins: You have also recently sent an update to shareholders and IPO applicants about the results of recent work at the Cowarra Gold Project. Can you please tell us a bit more about that?
Rob McCauley: Yes. Rock chip samples on the Never, Never; Ironclad and John Murray’s prospects at the Cowarra Gold Project have returned grades of over 31 grams per tonne. That’s more than one troy ounce of gold for every tonne of ore. These are very good results, we are looking forward to commencing drilling at Cowarra and Oberon as soon as the IPO closes.
I should also point out, that all of Commissioners five projects are situated in the highly prospective Eastern Lachlan Fold Belt in areas that were mined in the nineteenth and early twentieth century. There are still visible remnants of old mine shafts, wave tables and workings dating back to the 1800s including at Cowarra an old BHP Gold mine. There is still so much potential upside here for Commissioners Gold. Also, as I previously mentioned, the rigs are ready to drill as soon as the IPO closes.
Results from this drilling program are expected to be announced to the market no later than the September quarter. We also expect to be upgrading our current Gold resource at the Cowarra Gold Project in the near future.
Clive Tompkins: Tell us about your current gold resource and the continuing rise in the price of gold?
Rob McCauley: Commissioners Gold currently has a resource of 37,000 ounces of Gold at the Cowarra Gold Project. We are very confident through a focussed drilling program as outlined in the prospectus that we can increase this gold resource considerably in the near future. Gold is currently in excess of $1,500 per ounce and tipped by some industry analysts and commentators to go as high as $5,000 per ounce.
Clive Tompkins: Why are you so 'bullish' on the price of gold?
Rob McCauley: The main reason behind the continuing rise in the value of gold is because of the quantitative easing, or printing money, QE policies that the US, UK and other developed countries have embarked upon to try and resurrect their economies. This policy devalues their currencies and of course down the track will reignite inflation which is all very good for the price of gold. This trend is expected to continue for at least another five to 10 years. Clive, this all bodes very well for the future value of Commissioners Gold.
Clive Tompkins: Is there anything else that you would like to mention about this exciting share offer from Commissioners Gold?
Rob McCauley: The Board of Commissioners Gold has decided to issue bonus options to shareholders. These options will allow shareholders to purchase more shares in Commissioners Gold at any time prior to June 2014 for only 22c.
Clive Tompkins: What is the cost of these bonus options?
Rob McCauley: The cost of these options is set at only one cent. This is really a great offer to shareholders. Details of the offer will be announced on the ASX after listing and application forms will then be sent to shareholders.
Also, may I remind brokers, advisers and sophisticated investors that offers are available for the purchase of lines of stock applied for and booked before the closing date of the 22
nd of July. For all those interested parties, please contact me ASAP for details.
Clive Tompkins: Robert, in closing, please remind people in our audience how they can subscribe for shares in Commissioners Gold?
Rob McCauley: They can subscribe for shares in Commissioners Gold by applying on the application forms attached to the prospectus found at our website: commissionersgold.com.au. Or, they can call me directly, that’s Robert McCauley, on my mobile: 0432 327 015. I’ll give everyone that number again:0432 327 015, and I will arrange for application forms with a prospectus to be posted out to all callers immediately.
Clive Tompkins: Rob McCauley, thanks for the update on the forthcoming listing of Commissioner’s Gold on the ASX.
Rob McCauley: Thank you Clive, and thank you to all of your Finance News Network audience for listening to the Commissioners Gold story and update.
