SVG 12.5% 2.7¢ savannah goldfields limited

Hi gassed,On March 15 the company advised the market as follows:...

  1. 16,242 Posts.
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    Hi gassed,

    On March 15 the company advised the market as follows:

    • Laneway currently expects mining activities to commence in early April with transportation of ore and processing through Maroon Gold’s Plant at Charters Towers to follow shortly thereafter.

    • The Company has lodged the Financial Assurance under the project’s Environmental Authority required to enable commencement of mining activities.

    • 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 nearing completion.

    • Mining camp has now been mobilised to site and the mining fleet is expected to be mobilised to site over the next two weeks.

    • Pit designs for the initial mining campaign have been finalised.

    • The mining, transportation and processing activities are to be carried out pursuant to the Mining and Processing Agreement Laneway has entered into with Maroon Gold Pty Ltd which will allow toll treatment of high-grade ore through Maroon’s Gold Processing Plant at Charters Towers.

    • 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.

    • Maroon Gold have notified Laneway that their Black Jack Gold Processing Plant was not damaged by the recent severe weather event and, after a period of being shut down due to limited road access from Charters Towers, the Plant has now been restarted and is currently fully operational.

      No need to call Paul Marshall, the market is up to speed.

      I'd rather they wait a week and give us some pics and grades, that'll get the price moving.

      Cheers,

 
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Last trade - 15.31pm 29/03/2024 (20 minute delay) ?
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