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 confirms construction of main access road
Leyshon Resources (AIM & ASX: LRL) announced that construction of the main access road at the Zheng Guang gold project in Heilongjiang, northeast China has commenced.
“The 8.6 kilometre road will be the main access route for the project and has been located to minimise disturbance to local villagers. It will connect the project with the residential town of Heibaoshan and will include a fibre optic cable for broadband and other telecommunication links” the emerging gold producer said.
Leyshon expects the total cost to be US$0.728 million and should take 90 days to complete.
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