Mungana Goldmines Stand Number: C 3
Mungana Goldmines listed on the Australian Securities Exchange in June 2010 following a $57 million IPO to fully realise the value of the North Queensland gold assets of the mid-tier base metal producer, Kagara Limited (ASX: KZL). Kagara Ltd retains a 62% shareholding.
Mungana’s key assets are the Mungana and Red Dome gold deposits, located in the Chillagoe region of North Queensland, which have combined Measured, Indicated and Inferred Resources totalling 2.6 million ounces of gold, 255,000 tonnes of copper and 33 million ounces of silver.
Mungana is undertaking mining studies and a definition drilling program at the Mungana and Red Dome gold deposits culminating in a BFS to assess the optimal development strategy for these deposits.
The Company is targeting production of 100,000 ounces of gold 10,000 tonnes of copper and 1.5 million ounces of silver annually.
Company Website: www.munganagoldmines.com.auPlatinum Sponsors
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