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Gold/Mining/Energy : Laverton Gold VSE:LAV

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To: alan holman who wrote (40)	9/27/1997 11:47:00 AM
From: burner	Read Replies (1) of 45

alan, The Rawas Project was commissioned in January. The first month's production was 21% over estimate. Gold recovery up from a budgeted 85% to 94.5% and the plant throughput up 10% The gold and silver resource has been increased to 1.14 million oz of gold equivalent. "The company expects the resource to increase significantly as a Decmber deadline to produce a new reserve statement did not allow for results of 50 drill holes to be included in the compilation. Infill drilling is being carried out to complete this missing information at which time the new reserve will be announced." Laverton has engaged a flat forward hedging contract with Rothschild Australia Ltd. the contract enables LAV to sell its first year and a half of schedulued production at a price of $406 US/oz. Lav has 2 COW's in the area. They have 90% interest in the newer COW which is being explored with stream sediment sampling data being compiled based on work previously undertaken by Kennecot and CRA. The company has been encouraged by results thus far. The company website can be fount at: transcontinental.com.au Regards, Dan Byrne

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