couple more very old links on Rawas:
erd.com.au
Laverton Gold - Ore search heads priorities at Rawas (gold, Indonesia)With an ultimate goal of pushing out the mine life at the Rawas operation in Indonesia to 15 years, Laverton Gold NL is pulling out all stops on the exploration front. The mine currently has a mine life of four years based on reserves of 3.53 million tonnes grading 3.13 grams/tonne gold and 30.9 g/t silver for 415,000 ounces at a 1 g/t cut-off grade. This takes in five deposits – Berenai, Central, Buluh, Asmar and Bujang. esources contain an additional 3.16 mt at 2.57 g/t gold and 35.4 g/t silver for 305,000 oz. The $US37.9 million
Rawas development, commissioned in January, is wholly owned by Laverton through its subsidiary PT Barisan Tropical Mining, and is 60
kilometres north east of the Lebong mining area in South Sumatra. The project has been financed by a combination of debt ($US20
million) and equity ($US22.6 million). A further $US1 million is payable to Rio Tinto Ltd (formerly CRA) as part of the original acquisition cost. A 2% royalty reducing to 1% after 500,000 oz is payable to Repadre Corporation, as well as a 1-2% royalty to the Indonesian Government. According to Laverton managing director, Barry Bolitho, exploration targets range from stream and soil geochemistry,
trench sampling and drilling with 150 geochemical anomalies outlined to date. Much of the group's search effort is within the existing
contract of work (CoW), which totals 120 square kilometres. A second CoW surrounding the mine totals 1,600 sq km, while a third
CoW application is pending, totalling 400 sq km. Tania Winter, GMJ, Sep 97, p41
192.139.81.46
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: LAVERTON GOLD N.L.
AUSTRALIA STOCK EXCHANGE, VSE SYMBOL: LAV
JANUARY 7, 1997
Laverton Gold N.L. - Rawas Project Commissioned
VANCOUVER, BRITISH COLUMBIA--Re: RAWAS
COMMISSIONING
The Rawas project was commissioned at 18:30 hours on the 5th
January 1997. The plant was running at 70 tonnes per hour (the
equivalent of 600,000 tonnes per annum) within one hour of
commencement of operations.
GOLD POUR
The inaugural gold pour will be in approximately two weeks time.
HEDGING
Hedging is in place at a price of US$406 per ounce for the first
160,000 ounces of gold which equates to over two years of
production.
RESOURCE & RESERVE ESTIMATES
As a result of the 1996 exploration drilling program the
preliminary resource estimate indicates an increase of the total
resource by 24 percent to 1,140,000 ounces. Consultants are
currently working on a new reserve estimate which is anticipated
by the end of January 1997.
Elsewhere in the contract of work a silver/zinc deposit has been
recently reassessed and a Resource has been established of 1.32
million tonnes @ 145.3 g/t Ag, 10.88 percent Zn, 2.85 percent Pb,
.67 percent Cu and 0.16 g/t Au (total Resource 468,000 oz gold
equivalent). The deposit contains skarn mineralisation adjacent
to an intrusive body and the potential for extensions and further
discoveries is considered very good. For this Resource, no
information is available on treatment factors and equivalence has
been estimated on the average of LME Cash Buyers over the last
quarter and on estimate of metal recovery.
OPTION UNDERWRITING
The Company has reached agreement with clients of Eyres Reed to
underwrite the exercise of 38,872,802 options at 20 cents on or
before the 30th June 1997. Agreement has been reached with
Dresdner Australia Ltd. to lend an amount of A$7,800,000 secured
against these option underwriting agreements.
These funds, together with the Overrun Facility of US$2,000,000
from Rothschild Australia Ltd. will provide the funding for the
balance of development costs of the Rawas gold project.
Information in this report relating to ore and mineralisation was
compiled by Malcolm Castle, who consents to its inclusion and is a
Corporate member of the Australasian Institute of Mining and
Metallurgy with a minimum of five (5) years in the field of
activity involved. Mr. Malcolm Castle is full time employee of
Tington Pty. Ltd. a management company which provides technical
and financial services to Laverton Gold N.L.
BY ORDER OF THE BOARD
B.P. Panos, Company Secretary
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