Dome Gold Mines (ASX: DME) has a quite unique focus and is targeting gold, copper and magnetite iron projects in Fiji, with the company looking to list shortly on the ASX after offering an IPO of 35 million shares at $0.20 to raise up to $7 million.
Dome Gold was formed last year to specifically acquire Fijian interests, with the company rapidly progressing this strategy - highlighted by the fact of now wholly owning three projects in the country prospective for gold, silver and copper.
Of interest one of the projects has potential upside due to containing magnetite sand.
What is most important with operating in Fiji is the mining friendly government and culture, while also offering strong opportunities for exploration upside due to being a well mineralised region.
Nasivi Delta is the flagship project, with a large alluvial deposit. Facts are:
- Located down-stream from Emperor Gold Mine at Vatukoula;
- Contains gold and abundant magnetite (iron ore) sand;
- To be tested with new drilling technology;
- Should generate cash flow within 2-3 years;
- Likely to produce gold/iron ore co-products; and
- Potential for a robust project, based on mining by dredging.
The second project is Kadavu Islands - targeting discovery of Emperor-like high grade gold deposit, with prime targets epithermal gold-silver deposits.
The third project is Central Viti Levu which is located just north of giant Namosi porphyry copper deposit.
Experienced board with global credentials
The Dome Gold board of directors is very experienced, with chairman Dr Garry Lowder bringing over 40 years of experience in Australian and International mining, and is also the chairman of Malachite Resources and former non-executive director of Straits Resources.
Other directors include Caroline Marsh with 24 years experience as lawyer, specializing in public health, government regulation, and advertising; Andrew Skinner with 30 years experience as public practice accountant; Tadao Tsubata an experienced economist within the Japanese insurance and securities industry; and Allen Jay bringing 40 years experience as a Geological Consultant.
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