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Corporate Spotlight

CM1 is a gold producer and explorer. Its 549km2 tenement area in the gold-producing district of Coolgardie, WA is made up of the producing 92K oz Geko Project and five other advanced prospects. CM1 is generating quick cash flow from Geko production and has a highly prospective exploration program.
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GEKO GOLD MINE

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MARKET ANNOUNCEMENT

First ore production from Geko Project

ASX Announcement 1 November 2018

Coolgardie Minerals Limited (ASX: CM1) is pleased to announce that gold ore production has commenced at its Geko Project near Coolgardie, WA. Sale of the oxide ore will commence in mid-November 2018 as per the Ore Sale Agreement executed with Northern Star Resources.

Bradd Granville Managing Director of CM1 said: “This is another milestone for the company as we continue to achieve our targets in line with the mine plan.

“Revenue will commence next month from our ore sales to Northern Star and the 1.6 million tonne reserve will continue to be mined over the next 13 months.”

The ore has been mined and stockpiled with an initial mined grade of 3.5g/t Au.

Northern Star Ore Sale Agreement 

As announced to the market on 6 September 2018, CM1 has entered into an Ore Sale Agreement with Northern Star Resources for the sale of up to 100,000 tonnes of oxide ore produced from its Geko mine, at a fixed gold price of AUD$1,650 per ounce.

The ore will be supplied at a minimum grade of 2.75 g/t and will be delivered in parcels of 10,000 to 25,000 tonnes over a six month period from 1 October 2018 to 31 March 2019.

It is expected the Sale Agreement will generate more than $10 million in revenue for CM1 during the Agreement period.

Negotiations are underway for additional toll milling agreements with nearby gold treatment facilities.

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ORE PRODUCTION

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MARKET ANNOUNCEMENT 

First ore production from Geko Project

ASX Announcement 31 October 2018

Coolgardie Minerals Limited (ASX: CM1) is pleased to announce that gold ore production has commenced at its Geko Project near Coolgardie, WA. Sale of the oxide ore will commence in mid-November 2018 as per the Ore Sale Agreement executed with Northern Star Resources.

Bradd Granville Managing Director of CM1 said: “This is another milestone for the company as we continue to achieve our targets in line with the mine plan.

“Revenue will commence next month from our ore sales to Northern Star and the 1.6 million tonne reserve will continue to be mined over the next 13 months.”

The ore has been mined and stockpiled with an initial mined grade of 3.5g/t Au

Northern Star Ore Sale Agreement 

As announced to the market on 6 September 2018, CM1 has entered into an Ore Sale Agreement with Northern Star Resources for the sale of up to 100,000 tonnes of oxide ore produced from its Geko mine, at a fixed gold price of AUD$1,650 per ounce.

The ore will be supplied at a minimum grade of 2.75 g/t and will be delivered in parcels of 10,000 to 25,000 tonnes over a six month period from 1 October 2018 to 31 March 2019.

It is expected the Sale Agreement will generate more than $10 million in revenue for CM1 during the Agreement period.

Negotiations are underway for additional toll milling agreements with nearby gold treatment facilities.

Click here to view the full announcement

QUARTERLY

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GEKO UPDATE

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Geko Project – Grade Control Drilling Results

ASX Announcement 3 October 2018 

Coolgardie Minerals Limited (The Company or CM1) is pleased to announce the results from the initial grade control drilling at the Geko Project, 35km north west of Coolgardie. The grade control drilling was designed to confirm and define the near-surface high-grade gold supergene zone and the top of the wider, deeper oxide zone. 

A total of 6,473m in 195 holes were drilled from May to early September in readiness for mining of this high-grade zone. Twenty significant supergene intersections returned above 4g/t Au. 

Mining of the first supergene ore is scheduled to be mined in mid-October.

The significant results demonstrate that the “supergene zone” continues into the currently designed pit wall in the western end of the Geko pit. A detailed analysis of these results is underway, leading to high priority extensional drilling targets outside of the current pit design. In November 2018, CM1 plans to commence extensional drilling outside of the existing pit perimeter. 

Additional holes intersected the upper portion of the deeper, saprolite ore beneath the supergene zone confirming the upper geometry and high grades. Fourteen significant intersections of the saprolite zone returned above 4g/t Au.

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ABOUT

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ABOUT COOLGARDIE MINERALS LIMITED

Coolgardie Minerals Limited (CM1) was established in 2010 and is a near-term gold producer with over 549km2 of tenements surrounding the Bullabulling Gold Project in the proven gold-producing districts near Coolgardie, Western Australia. The CM1 tenements comprise of the Geko Gold Project, First Find, Endeavour, Bungarra, Sunchaser-Reservoir and Ubini. 

The exceptional location offers immediate access to state of the art infrastructure and expertise including Geological Services, Drilling Contractors, Assay Laboratories supported with key elements such as water, power and rail running directly through the substantial landholdings.

In addition to surrounding the 3.2 Million ounce Bullabulling deposit, the compelling attraction to this unique area is that it holds significant high-grade potential, proven through recent exploration successes with additional outstanding targets ready to be tested.

The significant value proposition identified by CM1 lies beneath the shallow surface cover that will continue to be systematically explored along strike and along the highly prospective “structural paradise” that has been identified by some the industry’s leading professionals.

An impressive inventory of intellectual property has been compiled over a period of 5 years of extensive geological mapping, soil sampling and ground gravity surveys that provides CM1 with a unique opportunity and a strong foundation for growth.

As a result of the quality work completed to date, CM1 is now extremely well positioned moving onward and upward with both drill-ready gold targets and a collection of enticing early stage prospects that will be the central driving force of the company.


WWW.CM1.COM.AU


BOARD

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Neil Warburton  (Assoc. MinEng WASM, MAusIMM, FAICD)

Non-Executive Chairman

Neil has worked within the mining industry his entire career in roles ranging from underground miner through to senior mining engineer to executive and non-executive directorships managing large mining and contracting companies.

He has over 37 years of experience in all areas of mining operations. Over the period 2000-2012, Neil held senior positions with Barminco Limited culminating in being the Chief Executive Officer from August 2007 to March 2012. Prior to joining Barminco, Neil held several senior corporate positions included serving as Managing Director of Coolgardie Gold NL from 1990 to 1995.

Neil is a graduate of the Western Australia School of Mines with an Associate Degree in Mining Engineering. He is a Fellow of the Australian Institute of Company Directors (FAICD), Member of the Australian Institute of Mining and Metallurgy (MAusIMM), Chairman of the Australian Mining and Prospectors Hall of Fame Foundation, Councillor of the Western Australian School of Mines Alumni association and serves as a director on several smaller private companies.

Bradd Granville

Managing Director

Bradd has over 25 years of experience in the industry with a specific focus in Business Management commencing in the Pilbara area of Western Australia.

As the Operations Manager of a North Western national service and contracting company, he oversaw the facilitation & support that his company provided to the Oil/Gas and Mining industry throughout the region.

The emphasis on gold came when he accepted the position of General Manager of Momentum Australia and thereafter was directly responsible for the acquisition, recommencement and operation, and final divestment of the Minjar Gold Mine.

In 2010 Bradd became a founding Director of Coolgardie  Minerals and at that initial phase simultaneously held the position of Resource Development Manager. This additional role was held until he was elected Managing Director. During this latter period, he has also held Director position in White Gold Kaolin and Grace Mining.

Paul Jago

Non-Executive Director

Paul studied Mining Engineering at the WA School of Mines in Kalgoorlie with 25 years' experience in the Mining Industry.

Paul has had extensive experience in gold mining focused particularly in Western Australia with a significant period at the Superpit in Kalgoorlie managing all of the mining engineering planning and related technical functions of the organisation. Other gold mines in WA include Ora Banda, Bronzewing and Jundee where the latter two also included involvement in the design and commissioning of the sites. He similarly participated in the design and construction of the Cawse Nickel mine.

Paul was the Project Manager in the re-establishment of the Minjar Gold Mine and was also involved in the design and construction of the Penjom gold mine in Malaysia. Consultancy in technical and operational wise have focussed particularly on WA gold mines. Other consultant responsibilities include tendering and project management undertaken on behalf of a number of earthmoving contractors, and while principally in gold has included work in the Pilbara on the Jimblebar iron ore mine.

Greg Martin

Non-Executive Director

Greg brings energy and enthusiasm to the Board, mixed with a solid foundation in finance and corporate governance.

Greg is a qualified Financial Planner and holds a current Triannual certificate. He has an extensive and varied mining and business background.  He has been the Company Secretary of a derivative hedge fund and has over 25 years of experience in domestic and international mining.

Early in Greg’s career, he worked for a short period in Wiluna to obtain his drill and blast qualifications. Greg then progressed his management career working for the Roche Brothers at Mt Brockman in the Pilbara as the first iron ore mining contractors in the Pilbara. To further expand his career, Greg moved to Tanami Gold to train Indigenous Australian’s in all aspects of mining from drill and blast to plant operation.

Throughout Greg’s career, he has had experience in the negotiation of Native Title between Indigenous Australian’s and mining companies.  His success in these negotiations is his ability to build strong relationships with all people; be it internal and external stakeholders, suppliers, or the community.

Mixed with Greg’s business acumen, is a strong sense of active community leadership, whether it be in his son’s school or as coach of the local football team.

With this extensive experience, Greg understands the need for swift, considered, and legally founded decision making, which ensures that Greg is a strong addition to the Coolgardie Minerals Limited Board.

Tony Middleton  (BE, MBA FIE (Aust))

Non-Executive Director

Tony holds a Bachelor of Engineering and a Master of Business Administration from the University of Western Australia and Company Director Diploma from the University of New England.

He was Managing Director of Advanced Engine Components Ltd (AEC), a West Australian company listed on the Australian Stock Exchange.

Tony held senior management positions with WA government authorities including his previous position of Chairman and Chief Executive Officer of Transperth.

He has also worked on several major water supply infrastructures and consultancy projects in Australia and overseas and lectured at the University of Western Australia. 

He is a Fellow of the Institution of Engineers (Australia) and past National Chairman and a fellow of the Chartered Institute of Logistics and Transport in Australia.

WWW.CM1.COM.AU

(20min delay)
Last
9.5¢
Change
0.00(3.26%)
Mkt cap $9.829M
Open High Low Value Volume
9.5¢ 9.5¢ 9.0¢ $17.06K 181.1K

Buyers (Bids)

No. Vol. Price($)
1 50000 8.4¢
 

Sellers (Offers)

Price($) Vol. No.
10.5¢ 50000 1
Last update - 15.09pm 20/11/2018 (20 minute delay) ?
CM1 (ASX) Chart
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