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Epic & Msn data
| Epic |
LRL |
| Time: |
16:30:01 |
| Mid Price: |
3.25 |
| Change Today: |
0.00
|
| Change % Today: |
0.00 |
| Fifty Two Week High: |
30.50 |
| Fifty Two Week Low: |
3.25 |
| Market Capital: |
7.01 |
Period & price data
| Period |
Price |
| Now: |
3.25 |
| 3 Months ago: |
20.75 |
| 6 Months ago: |
22.75 |
| 1 Year ago: |
23.25 |
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Leyshon Resources has a proud history as one of Australia’s most financially successful gold mining companies having produced over 2.7 million ounces from its Mt Leyshon Gold Mine in Queensland and distributed over A$300 million dollars to its shareholders over its 15 year life. Today Leyshon has divested its Australian mining and exploration interests and is focused on the Zheng Guang project in Heilongjiang, northeast China. Zheng Guang has estimated the resource of 1.21 million ounces of gold, 94,000 tonnes of zinc and 3.72 million ounces of silver. The company forecasts annual revenues of 90 mln usd from the project at current metal prices, and EBITDA of 54 mln usd on cash operating costs of some 155 usd per ounce
Leyshon Resources maintains momentum
Leyshon Resources Limited ( AIM / ASX: LRL ) announced it had placed orders for the manufacture and delivery of two ball mills at a total cost of US$2 million for its Zheng Guang gold zinc project in China.
The first ball mill is scheduled for delivery in August 2008 for the oxide circuit while the second ball mill will be delivered in September 2009 for the sulphide circuit. The combined capacity of the mills is 1.5 million tonnes per annum. The Company added that the price and delivery times compared 'very favourably' with overseas manufactured and supplied mills.
Nenjiang Power Bureau, the local power authority had also been contracted to connect the mine to the local power grid and engineering designs for the mine were expected to complete by the first quarter of 2008.
Managing Director Paul Atherley commented:
“Our strategy is to rapidly bring Zheng Guang into production combining the benefits of low Chinese capital and operating costs with smart Australian metallurgical design.
The cost and lead time of the ball mills compare very favourably with international standards and when combined with the remarkable infrastructure levels in Heilongjiang its hard to imagine a better location in the world to be developing a gold project right now.”
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Disclaimer
This document is intended solely for the information of the particular person to whom it was provided by Proactive Investors Australia Pty Ltd and should not be relied upon by any other person. Although we believe that the advice and information which this document contains is accurate and reliable, Proactive Investors Australia Pty Ltd Limited has not independently verified information contained in this document which is derived from publicly available sources, directors and proposed directors and management. Proactive Investors Australia Pty Ltd assumes no responsibility for updating any advice, views, opinions, or recommendations contained in this document or for correcting any error or omission which may become apparent after the document has been issued. Proactive Investors Australia Pty Ltd Limited does not give any warranty as to the accuracy, reliability or completeness of advice or information which is contained in this document. Except insofar as liability under any statute cannot be excluded, Proactive Investors Australia Pty Ltd Limited and its directors, employees and consultants do not accept any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this document or for any resulting loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this document or any other person.
This document has not been written for the specific needs of any particular person and it is not possible to take into account each investor’s individual circumstances and that investors should make their adviser aware of their particular needs before acting on any information or recommendation. Proactive Investors Australia Pty Ltd Limited, its employees, consultants and its associates within the meaning of Chapter 7 of the Corporations Law may receive commissions, underwriting and management fees, calculated at normal client rates, from transactions involving securities referred to in this document and may hold interests in the securities referred to in this document from time to time.
Disclosure of Interest
Proactive Investors Australia Pty Ltd and its associates may have owned shares in the above company as at the date of the report. This position is subject to change without notice.
