The company they are merging with is basically part of the same group of companies i.e. the Transcontinental Resources Group headed up by Perth, Australia businessman Tony Trevison.
Laverton has done well by getting an operating mine into production in south sumatra and it would appear (see below) that commisssioning was sucessful and they are operating near budget.
The mine unavoidably produces low grades in the begining from an eluvial rubble covering the main epithermal vein system. When mining of the main veins commences the grades should improve considerably.
Junaidi
<HTML><HEAD><TITLE>Stockwatch Information Service</TITLE></HEAD><BODY>
<H1>Laverton Gold N.L. - News Release</H1><H2>February production results</H2>
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Laverton Gold N.L. LAV
Shares issued 103,997,383 Mar 3 close $0.35
Fri 7 Mar 97 News Release
Mr Barry Panos reports
The reconciled February production results have just been finalized. These
show a second excellent month's production.
Below are listed the budget and actual figures for the first two months'
production:
Budget Actual + or -
------- ------- -------
JANUARY
Tonnes milled (t) 30,000 33,614 3,614
Grade 2.45 2.40 -0.05
Recovery (%) 85.0 94.8 9.8
Gold equiv. (oz) 2,040 2,471 431
Ore mined (t) 53,820 42,499 -11,321
Waste mined (bcm) 138,000 161,656 145,000
FEBRUARY
Tonnes milled (t) 45,000 48,877 3,877
Grade 2.60 2.36 -0.24
Recovery (%) 90.0 93.3 3.3
Gold equiv. (oz) 3,459 3,517 58
Ore mined (t) 54,288 54,419 131
Waste mined (bcm) 145,000 165,000 20,000
Current ore stock pile: 6,500t
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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