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KGL RESOURCES LIMITED — Capital/Financing Update 2012
Aug 12, 2012
65179_rns_2012-08-12_cc525be1-a343-48cc-ae29-db47b08284fc.pdf
Capital/Financing Update
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Kentor Gold Ltd
ACN 082 658 080
13 August 2012
Australian‐based Kentor Gold Limited (ASX: KGL)has entered the ranks of operating gold mining companies in 2012. The Company is progressing a pipeline of advanced projects in Australia and the Kyrgyz Republic.
The Murchison Gold Project in Western Australia ‐ commenced high grade gold mining at the Burnakura plant in mid‐2012, with the potential to add gold‐copper production from the neighbouring Gabanintha deposit.
The high grade, very low cost Andash Gold‐Copper Project in the Kyrgyz Republic – development‐ ready, awaiting site access and targeting 2013 to commence production at 70,000 oz gold and 7,400 tonnes copper pa for an initial six years, with high potential for expansion.
The Jervois Copper‐Silver‐Gold Project in the Northern Territory – targeting 2014 start‐up following current studies into developing the high grade copper‐silver resource with potential for gold, magnetite and other base metals.
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Issued capital:
150.4 million ordinary shares 5.8 million unlisted options
Kentor Gold pours first gold from the Murchison Gold Project
Kentor Gold Limited (“Kentor Gold” or the “Company”) is pleased to announce the pouring of the first gold Doré bar from the Murchison Gold Project, WA.
Murchison is the first of Kentor Gold’s pipeline of three advanced projects to enter production.
The first gold doré bar weighed 1.13 kg (36.3 ounces) and is estimated to be approximately 90 % gold.
Kentor Gold’s Managing Director Simon Milroy said:
“This is a big milestone for Kentor Gold as the Company joins the ranks of gold producers.
“I wish to thank personally each of our staff and contractors for all their dedicated, hard work that has brought the project in to production safely and efficiently.
“The plant is settling down nicely with the mill continuing to achieve higher throughput than designed on a consistent basis. Initial gold production is sourced from the Burnakura plant’s gravity circuit. Gold loadings on the CIL circuit’s carbon are building steadily and it is anticipated the first carbon strip will take place later this week.”
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Figure 1 Murchison Gold Project's First Gold Bar
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Kentor Gold Limited
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Figure 2 Murchison Gold Project first gold pour
Mr Simon Milroy Managing Director Phone: (07) 3071 9003 Email: [email protected]
Mr David Waterhouse
Investor Relations Ph (03) 9670 5008 [email protected]
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13 August 2012