Bullabulling Gold Limited CLARIFICATION - PRODUCTION FORECAST (9386I)
06 6월 2014 - 3:00PM
UK Regulatory
TIDMBGL
RNS Number : 9386I
Bullabulling Gold Limited
06 June 2014
6 June 2014 ASX Code: BAB, AIM Code: BGL
Bullabulling Gold Limited ("Bullabulling " or the "Company")
CLARIFICATION - BULLABULLING GOLD PROJECT PRODUCTION
FORECAST
Bullabulling Gold Limited (the Company or BAB) refers to the
announcements to the Australian Securities Exchange Limited (ASX)
and AIM on 7 February 2013, 2 July 2013, 15 October 2013, 19
February 2014, 7 March 2014, 12 March 2014, 30 April 2014, 27 May
2014 and BAB's Target's Statement released on 14 May 2014 which
refer to the Bullabulling Gold Project.
Those announcements and the Target's Statement include a
reference to the forecast gold production for the Bullabulling Gold
Project. This forecast gold production was based on the results of
the prefeasibility study first reported on 7 February 2013 and the
optimisation of those results through the revised mine plans
developed following resource updates, as reported on 13 May 2013
and 19 September 2013. The material assumptions underpinning that
production forecast, including the capital expenditure requirements
to bring the project to full production, were last reported to the
ASX on 7 March 2014. The directors of BAB are not aware of any
material change in circumstances that impacts the technical
viability of the Bullabulling Gold Project or the estimates of
capital and operating costs that have been announced for the
project, as last reported on 7 March 2014.
As reported in the Target's Statement and the Chairman's address
to the AGM released on 27 May 2014, additional funding will be
required for the Bullabulling Gold Project to bring it to the
production stage and there is currently no certainty of this
funding. The directors strategy during the study phase of the
project is to raise funds periodically when they are needed in the
least dilutionary manner to shareholders. The Company intends to
evaluate a range of funding alternatives for project development
once an Ore Reserve has been estimated.
Investors are advised that, as there is no certainty that
sufficient funding will be secured for the Bullabulling Gold
Project, the economic viability of the project has not been
established notwithstanding the independently assessed Mineral
Resources of 3.75 million ounces of gold[1] and the results of the
prefeasibility study and
further optimisation work carried out. As BAB is concerned that
investors may imply that economic viability has been established
for the project, it retracts the gold production forecasts and
cautions investors against using those statements as a basis for
investment decisions about shares in the Company.
David McArthur
Company Secretary
Competent Person Statement
The information in this report that relates to Mineral Resources
is based upon information compiled by Mr Trevor Pilcher, who is a
full time employee of the Company and is a member of The
Australasian Institute of Mining and Metallurgy. Mr Pilcher has
sufficient experience relevant to the style of mineralisation and
type of deposit under consideration and the activity in which he is
undertaking to qualify as a Competent Person under the 2012 Edition
of the Australasian Code for Reporting Exploration Results, Mineral
Resources and Ore Reserves (JORC Code). Mr Pilcher consents to the
inclusion in this report of the mattes based on his information in
the form and context in which it appears.
Further enquiries:
Brett Lambert Westhouse Securities Limited
Bullabulling Gold Limited (UK Broker & Nominated Adviser)
Level 2, 55 Carrington Street Martin Davison / Hugo Rubinstein
Nedlands, WA, 6009, Australia Tel: +44 20 7601 6100
Tel: +61 8 9386 4086
------------------------------- -----------------------------------------------
Neil Boom John Gardner / Rupert Dearden
Gresham PR Ltd (UK media) MAGNUS Investor Relations. Corporate
Tel: +44 7866 805 108 Communication. (Australian Media)
Tel: +61 8 6160 4900
jgardner@magnus.net.au rdearden@magnus.net.au
------------------------------- -----------------------------------------------
[1] Mineral resources estimates comprise Indicated Mineral
Resources of 72.4 million tonnes at 0.98g/t gold (2.8 million
ounces) and Inferred Mineral
Resources of 41.6 million tonnes at 1.11 g/t gold (1.47 million
ounces). This information was prepared and first disclosed under
the JORC Code 2004. It has not been updated since to comply with
the JORC Code 2012 on the basis that the information has not
materially changed since it was last reported.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSSEFFIFLSESM
Bullabulling (LSE:BGL)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Bullabulling (LSE:BGL)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024