Proactiveinvestors recommends

Syrah Resources intersects 288m of graphite at Balama, brings forward target date for maiden Resource
Kentor Gold impresses with 53.5m at 1.08% copper at Jervois in the Northern Territory
Zeta Petroleum aims to rapidly commercialise advanced Romanian gas assets

Additional Information

Market:	ASX \| AIM
Sector:	Gold Mining
EPIC:	LRL
Latest Price:	0.19 (2.70% )
52-week High:	0.28
52-week Low:	0.17
Market Cap:	46.84M

1 year chart

1 day chart

Leyshon Resources

Leyshon Resources (ASX: LRL) 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 director buys 750,000 shares

Thursday, April 01, 2010

Leyshon Resources (ASX: LRL) director Richard Seville acquired 750,000 ordinary fully paid shares in on market purchases from 29th to 31th March at an average price of $0.194 cents per share for a total of A$145,584.00.

Leyshon successfully developed the Zheng Guang gold project into one of the province of Heilongjiang's largest gold mines yet discovered.

The joint venture established a 135 km² strategic ground position and delineated a JORC compliant Measured and Indicated resource of 740,000 ounces gold, 2.7 million ounces silver and 71,000 tonnes zinc.

Following a competitive tender the company and its partner sold the project for US$78 million in December 2009 to a private Chinese group.

The sale was achieved with minimal associated costs and represents a gain of US$20.2 million based on a total of US$22.5 million invested into Zheng Guang since inception of the project.

As a result the Company now has approximately A$48 million in cash and on term deposit in Australia and RMB1.98 million in Beijing. At current exchange rates this equates to approximately 12 pence per share (A$0.22 per share).

The Company is now focussed on acquiring and developing projects located in those countries and commodities which are of interest to Chinese groups for either offtake, partnership or sale.

Currently, Leyshon Resources shares are trading at $0.21, up 7% today.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.