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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (37540)	5/24/2009 10:50:17 AM
From: LoneClone	Read Replies (1) of 194939

Beaconsfield takes Ararat project stake May 20, 2009 news.smh.com.au Beaconsfield Gold NL will broaden its operations outside Tasmania after agreeing to acquire a 75 per cent stake in a project in Victoria. Beaconsfield said it had reached an agreement with Range River Gold Ltd to acquire the stake in its gold and copper project at Ararat in Victoria. "Historical gold production of 600,000 ounces has been reported from the Ararat project area, which highlights the potential for significant gold discoveries," Beaconsfield Gold said in a statement to the stock exchange on Wednesday. Beaconsfield Gold currently operates only one mine, in northern Tasmania, and owns the Stavely copper and gold project in Victoria. Beaconsfield Gold general manager of exploration Peter Thompson said the new operation would help the company grow. "Growth is important but we are not at the stage where we can commit to another mine yet. It is a number of years down the track," Mr Thompson said. At 1522 AEST shares in Beaconsfield Gold were trading steady at 16 cents.

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