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Kingsgate has also recently purchased the Bowdens
epithermal silver project in NSW from Canadian listed Silver
Standard Inc. Bowdens has been the subject of extensive
technical and feasibility due diligence and hosts over 90 million
ounces of silver resources. Kingsgate will undertake a bankable
feasibility study over the next 12 months and plans to have
Bowdens in production in 2014 at a rate of five to six million
ounces of silver per annum which is equivalent to around
120,000 ounces of gold per annum.
Kingsgate Chief Executive, Gavin Thomas, is enthused that
the company will look completely different in two years’ time.
“The acquisitions are just the start of an exciting growth phase
for Kingsgate,” Mr Thomas said.
“They bring an existing mine in Dominion’s Challenger
operations, a rapidly-emerging opportunity to start our third
mine at Laguna’s Arqueros project and a fourth at Bowdens in
our own backyard in Australia to follow quickly behind.
“There is actually more to what’s happening than the
simple concentration of assets under a single
umbrella. Each part of the enterprise brings
added value either through the underground
skills embedded in the Challenger workforce,
or the discovery potential in Thailand,
Australia and in Chile from the other projects
on Laguna’s books.
“These steps can take Kingsgate to over
500,000 ounces per annum and well on the
way to true world class mid-tier gold producer
status. Kingsgate has a clear growth strategy
that will underpin significant earnings and
dividend growth for all shareholders,” he said.
more than sum of the parts for Kingsgate
There is actually more
to what’s happening than
the simple concentration
of assets under a single
umbrella. Each part of the
enterprise brings added
value either through
the underground skills
embedded in the Challenger
workforce, or the discovery
potential in Thailand,
Australia and in Chile
from the other projects
on Laguna’s books.
AERIAL VIEW OF CHALLENGER MINE SITE IN SOUTH AUSTRALIA
OPEN PIT MINING IN A PIT AT CHATREE IN THAILAND
MINESITE 2011
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