LDR lach drummond resources ltd

following is courtesy of siameseparrot,vuseful>

  1. 5,472 Posts.
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    re LDR he posts ,

    It's certainly no TRY but is a very promising spec. The joint venture they have arranged with TRY will bring top quality exploration methods to the lease. I've had a look at LDR's website.

    In my opinion LDR has a key ingredient for most specs that end up being successful - Management with a proven track record.

    The following from Mine Box Portal on December 2 is very interesting.

    "Gold Float for Former Resolute Execs 02-12-03
    Two former senior executives from successful WA-based gold producer Resolute Ltd are spearheading a new gold company aiming to raise $3 million and complete a backdoor listing on the ASX before Christmas.

    Former Resolute Ltd founding director Ross Kennedy and senior exploration executive John Ikstrums will achieve the listing of gold company Lach Drummond Resources Ltd, through the suspended ASX-listed shell company Fashion Intimates Ltd.

    Lach Drummond – which takes its name from two of Australia’s most prospective and mineral-rich geological regions, the Lachlan Fold Belt of NSW and the Drummond Basin of Queensland – brings to the market a portfolio of seven high-quality gold projects located in world-class mining camps.

    Lach Drummond Managing Director John Ikstrums said: "Lach Drummond brings to the market some outstanding projects in a well-balanced portfolio and a well-known and proven board and management team, collectively with well over 100 years of experience in the mining and exploration industries.”

    Ikstrums said Lach Drummond’s early focus, and its strongest short-term cash flow potential, is the Penny West Project, located approximately 105km south of Mt Magnet in the heart of the world-class Murchison Mineral Field of Western Australia.

    The company’s tenements are located immediately adjacent to one of Australia’s richest gold discoveries, the Penny West deposit – which was mined by Metana Minerals in the early 1990s. Metana extracted 90,000 ounces of gold at a head grade of 22 grams per tonne in a joint venture that generated over $22 million in profit in an 18-month period.

    Kennedy, one of Australia’s best-known exploration geologists and mining industry figures, will chair the company. With 40 years of experience, Kennedy has held senior positions in several companies and was instrumental in the listing of Resolute Ltd, Marymia Exploration NL, Astro Mining Ltd and Sapphire Mines NL.

    He is recognised as having discovered the Redross nickel deposit near Kambalda (now being redeveloped by Mincor Resources NL) and led the exploration teams that made discoveries such as Plutonic, Challenger, Chalice and Marymia.

    Managing Director John Ikstrums has over 32 years experience, having held senior positions with CRA Exploration Pty Ltd, Aztec Exploration, Metana Minerals and Resolute Ltd. He is recognised for being instrumental in the discovery of the Marymia gold deposits and for Resolute’s involvement in the Challenger discovery in South Australia."

    Cheers,
    Siameseparrot
 
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