Focus Minerals Ltd (ASX:FML) Diggers And Dealers Presentation August 2009
Perth, Aug 5, 2009 AEST (ABN Newswire) - Australian-based gold producer Focus Minerals Ltd (ASX:FML) is pleased to be exhibiting at this year's Diggers and Dealers Mining Forum which is taking place from 3-5 August in Kalgoorlie.
Focus made transition into production ~ two underground operations - two pending. Produced 41,402 ounces of gold (toll treating), 2009 FY Cash Costs A$603/oz.
Focus Raised A$28m to refurbish 1.2Mtpa Three Mile Hill treatment plant, repaid two thirds of an A$18.6m debt facility. Cleared 70% of hedging position ~ hedge-free by September 2009, commenced underground resource expansion drilling at Tindals and stockpiled 105,000 tonnes @ 3.0 g/t.
Resource Expansion; Mining to date has extracted 2,500oz per vertical metre to 250 metres, recent drilling results demonstrate accuracy of newly-interpreted models. Priority targets at surface and at depth likely to contain high-grade resources. - Outstanding near-term potential to quickly grow Resources and Reserves.
45 day Milling Campaigns Sept & Dec 09
- Complete Three Mile Hill Refurbishment December 2009
- Commence exploration decline at The Mount Project
- Continue development of Countess
- Commence development of Empress
- Complete review on all resources and build life of mine plan
- $6 million dollar exploration budget 2010
- Build production to +100,000oz in 2011
For the complete Focus Minerals Diggers And Dealers Presentation 2009, please click the link below:
http://www.abnnewswire.net/media/en/docs/61202-ASX-FML-455624.pdf
About Focus Minerals Ltd
With over 3.8Moz of Mineral Resource, Focus Minerals Limited (ASX:FML) has a highly strategic portfolio of assets across Australia's two leading gold producing districts – the Kalgoorlie/Coolgardie belt and Laverton – and the financial muscle to continue to unlock further potential for growth.
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