LNY 0.00% 0.6¢ laneway resources ltd

Ann: Progress towards commencement of gold mining at Agate Creek, page-4

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    The mobilisation of the mining fleet is underway with all necessary equipment to commence mining operations expected onsite within the next few days.
    ✚ A bull dozer and a grader are on site and have commenced pre stripping of the open cut and waste dump areas. Top soils and seed banks will be stockpiled for rehabilitation of disturbed areas following completion of the mining campaign.
    ✚ Initial mining crew undertook site inductions yesterday.
    ✚ Haul roads are also being upgraded for the start of mining and additional signs and trafficmanagement systems being installed.
    ✚ Laneway currently expects the first ore blast and mining activities to commence next week in line with previously advised timing. Ore transportation and processing through Maroon Gold’s Plant at Charters Towers will commence shortly thereafter.
    ✚ Necessary repairs to the roads for the ore transportation route from Agate Creek to the processing plant which were affected by the recent severe weather and flooding in North Queensland are complete with some minor upgrading of the initial dirt sections of the haul route undergoing final approvals.
    ✚ Initial Pit designs are now complete with the mining, transportation and processing activities ready to be carried out pursuant to the Mining and Processing Agreement Laneway with Maroon Gold Pty Ltd which will allow toll treatment of high-grade ore through Maroon’s Gold Processing Black Jack Plant at Charters Towers, which is now fully re-commissioned following last years upgrades.
    ✚ Laneway anticipates material positive cash flow from the mining activities at the Agate Creek high grade project aided by recent high prices for AUD denominated gold.The mining camp has been mobilised to site and is now fully established and ready for the first roster of mining personnel to arrive during the next week.

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