QUARTERLY ACTIVITIES REPORT: JUNE
2012
KEY
POINTS
Bronzewing
Operations
u
Quarterly gold
production of 14,780oz
u
Gold production for
2011/12 year of 55,128oz
u
Mine planning review
nearly completed
Bronzewing
Exploration
u
Intersection of 34m @
3.98 g/t Au using a top cut of 10g/t Au in Cockburn Pit
u
Bower-Harrier heritage
survey was completed in April with clearance being given for the planned
drilling program
u
That drilling program
will be delayed until funds are available
Leonora
u
Discussions continuing
with interested parties
u
Auger and soil
sampling programs are in progress on a number of tenements at
Leonora
Corporate
u
Gold sales revenue of
$24.9 million for the quarter, with an average selling price of $1,564 per
ounce
u
Execution of $10
million finance facility with Au Mining Limited which was subsequently increased
to $16 million
u
Commencement of a 7.2
for 1 pro-rata renounceable rights issue to raise $16 million at an issue price
of 0.1 cents
u
Andy Tudor appointed
as Managing Director
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