VRE 0.00% 2.0¢ view resources ltd

## hot off the press - the top view! ##

  1. 2,257 Posts.
    View Resources now moving north on good results, and clever planning for the future! Good entry point for sound investment over the next few months!
    wrxsti
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    The ambitions of View

    Tuesday, September 13, 2005
    VIEW Resources hopes to be producing 200,000 ounces of gold a year from its Bronzewing operation near Kambalda in Western Australia through production from both the historical open pit and the newly defined Cockburn underground resource, as well as toll treatment arrangements.

    Following the recent completion of a mine design at Cockburn, View managing director Derek Lenartowicz told corporatefile the company was confident of initially being able to produce between 50,000-70,000oz per annum, but ultimately was looking for production figures similar to those when the old Bronzewing mine was previously in operation.

    "We have constructed production and cost models from first principles, and we're reasonably confident we have a good understanding of the issues relating to mine development and cost control. Subject to successful definition drilling, it is likely the mine could produce at a rate of about 500,000 tonnes of ore per year over 4-5 years," he said.

    "In the past, Bronzewing consistently produced in excess of 200,000 ounces of gold per year. Our ultimate objective is to reach and maintain that level of production."

    The company is considering initial mining from the underground Cockburn resource, which stands at 2.62 million tonnes at five grams per tonne of gold for a contained 418,000oz. The deposit is currently the subject of a feasibility study being undertaken by RSG Global, with definition drilling yet to be completed. Lenartowicz said initial production was expected in the first half of next year.

    The recently signed toll treatment deal with newly listed gold and uranium player, Korab Resources, was also a talking point for Lenartowicz, who revealed the company was "actively pursuing other Korab-like deals".

    He said the company expected Cockburn to contribute around 500,000 tonnes of high-grade ore per year, which would then leave around 1.5-1.8Mtpa in spare processing capacity.

    Lenartowicz said the most likely sources of additional ore would be the Bronzewing Central open pit, containing a reserve of 1.7Mt, as well as Korab's Bungara deposit.

    "By milling both underground and opencut ore, we could fill the mill for approximately two years and produce about 120,000-140,000 ounces per year over that period," he said.

    Lenartowicz also said the company expected to be able to start using BHPB's Geoferret exploration technology within its Kambalda nickel tenements within a few weeks.

    Shares in View were trading up 0.5c (3.2%) at 16c in morning trade.

    Click here to read the rest of today's news stories.

    View Resources managing director Derek Lenartowicz

    © Aspermont Limited 9/12/2005 2:27:06 PM

    wrxsti
 
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