Bullabulling Gold

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  14/05/13

  Bullabulling Gold to shave 20% off PFS cash cost estimates

  Pit optimisations indicate cash costs of $850 to $950, which is 20% lower than it envisaged in the Bullabulling project's pre-feasibility study.

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  13/05/13

  Bullabulling Gold's drilling improves project's economics

  The recent drilling programme at the Edwards and Gryphon prospects has improved the economics at the Bullabulling gold project.

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  29/04/13

  Bullabulling Gold enjoys a quarter of significant progress

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  18/04/13

  Bullabulling Gold raises over £1.35mln

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  10/04/13

  Bullabulling Gold encouraged by Gryphon/Edwards grades

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  25/03/13

  Bullabulling Gold's single high grade pit plans get further boost

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  14/03/13

  Bullabulling Gold to raise cash for DFS at flagship

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  06/03/13

  UPDATE: Bullabulling Gold results boost plans for a higher grade pit

  Bullabulling Gold this morning revealed drill results that may potentially boost plans to unearth a higher grade starter pit for the proposed mine.

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  19/02/13

  Bullabulling Gold kicks off higher grade resource drilling

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  07/02/13

  UPDATE: Bullabulling Gold project "technically and financially viable"

  Economics could also improve greatly by the time the DFS is released later this year, said broker.

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  06/12/2012

  Bullabulling Gold Investor Presentation - 6th December 2012 (PDF)

  Bullabulling Gold Investor Presentation - 6th December 2012

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  18/05/13

  Proactive Investors Mid & Sml Cap Weekly Roundup - Key catalysts come from boardroom changes
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  18/05/13

  Proactive weekly mining news summary including Mandalay Resources, Mwana Africa and Bullabulling Gold
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  14/05/13

  Market Movers: Motive TV, e-Therapeutics, Bullabulling Gold, Kedco, Minera IRL, Richland Resources
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  14/05/13

  Proactive news summary: Anglesey Mining, Bullabulling Gold, Union Jack, Motive Television, Polo Resources, Jubilee Platinum
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  14/05/13

  FTSE 100 lifted by hopes of firm start on Wall Street

We aim to become a profitable mining company, capable of producing up to 230,000 ounces of gold per annum, with initial production starting from 2015. The directors and management team is experienced in finding, building and running mines in Western Australia.  We are, however, in the process of strengthening our mine building team, as well as appointing more Australian-based board directors.

Bringing Bullabulling into production is a sizeable task and will require the stewardship of a new managing Director with solid mine building experience.  We are delighted to have Brett Lambert as the new Managing Director of the Company starting on 1 May 2012. In the meantime we are  seeking to welcome a new Australian Chairman, and a further non executive director with an Australian corporate background.

The promise of Bullabulling means that once in production there is scope to explore further within our sizeable 131km² project area.  Historic data from previous drilling has revealed areas of promise where we are likely aggressively explore later this year and beyond.

The recently completed 110 km Phase Two drilling programme added significantly to our new JORC resource calculation.  As of 29 February 2012, we are reporting a JORC global resource estimate of 3.2 million ounces of gold (102.8 Mt at 0.96g/t Au) using a 0.5g/t Au cut off.  Of this new estimate, 2.1 million ounces are in the Indicated resource category at a grade of 0.92 g/t Au.

The increase in the JORC from 2.4 million ounces (excluding Gibraltar and Laterite Dumps) to 3.2 million ounces is primarily the result of new zones of mineralisation intersected particularly north of the Phoenix Pit.

This means the total resource along the Bullabulling Trend has increased by 800,000 ounces of gold and the Indicated resource in the same area has increased by 1.4 million ounces of gold.  What’s more, this new JORC excludes known gold mineralisation contained within both the Gibraltar Pit and the Laterite Dumps.

The Bullabulling Gold Project

Based in the well-established gold mining district of Coolgardie in Western Australia, Bullabulling is conveniently close to established power, water and road infrastructure. Our licence area straddle the Great Eastern Highway, and lies around 70km to the south west of the gold mining town Kalgoorlie. We own a sizeable project area - 131km² – which is held in a series of granted mining leases, prospecting licences and exploration licences, including the recently acquired rights to our new Geko property. The site is well served by roads, power and water, and has no issues over native title claims.

Bullabulling deposit is located in  the Eastern Goldfields. The Eastern Goldfields contain over 160 deposits, 19 of which are greater than three million ounces of gold. We are developing the new mine in an area with a rich history of successful gold mining, and where we have ready access to experience people whom we will need to build and run the mine. Bullabulling was originally owned by Samantha (Resolute Mining) and latterly by Jervois Mining.  When we acquired the project we also bought a significant drill hole database that included the data on over 12,000 completed drill holes.

We are now embarking on a significant new phase of the mine’s development.  The past two years have been spent proving the potential of the asset. Today, as part of our pre-feasibility study we are starting to get Bullabulling ready for mine construction and gold production from 2015. The new mine will be built and run under the stewardship of a new board of mainly Australian directors with direct Western Australian mine-building experience.

While at the pre-feasibility, we are also continuing to explore promising areas on our existing licence area, with the aim of finding more areas with higher gold grades, particularly at the Gibraltar pit, and potentially Geko and other satellite areas. Following the recent Scoping Study, we are focusing on optimising expected costs, with the aim of bringing the pro-forma Capital Expenditure and Operational Expenditures into line with similar operations in the Coolgardie region.

Exploration

We identified two large mineralised trends of primary orogenic gold mineralisation: the north-south striking Bullabulling Trend and the east-west to northwest-southeast striking Gibraltar Trend.

The Bullabulling Trend contains the most laterally consistent gold mineralisation and can be traced for over 6 kilometres of strike. From north to south, it covers the following deposits and prospects - Bonecrusher, Dickson, Hobbit, Phoenix-Bourke-Wills, Bacchus, Edward and Griffin.

Since 2010 we have been exploration drilling mostly around the Phoenix and Bacchus pit areas, both of which are within a concentrated 2.2 kilometre stretch of the Bullabulling Trend. It is in this part of our licence area that we intend to open our first producing new gold mine, which will be built with an initial target production of around 230,000 ounces of gold per year. The geology, however, suggests that there is potentially a lot more gold to be discovered along the whole Bullabulling Trend and the separate Gibraltar Trend that appear to host similar commercial concentrations.

At Gibraltar we have started a programme of more finely targeted drilling, looking specifically for higher gold grades. Between now and the opening of the mine in 2015, the main focus of our drilling work will be looking for gold grades of comfortably more than 1 g/tonne.  We expect that in the process of looking for higher grades we will also increase the size of the overall resource by continuing to add lower grade ounces.

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Peter Mansell - Chairman

Peter Mansell was a corporate and resources lawyer with over 35 years of experience. He is currently a Director of ASX listed Ampella Mining Limited, BWP Management Ltd and the Euronext listed international smelting and mining company Nyrstar NV.

Mr Mansell is a former Chairman of ASX100 listed companies, West Australian Newspapers Ltd and Zinifex Ltd as well as the Chairman of Western Power. In addition, he has held directorships with Oz Minerals,Tethyan Copper Company Ltd plus Australian subsidiaries of AngloGold Limited.

Brett Lambert - Managing Director

Brett Lambert is an Australian mining engineer and senior executive with over 30 years’ experience in project development and the operation of resources companies, including several mines based in the Coolgardie region of Western Australia.

Brett has held the position of Chief Executive Officer in three mining companies over a thirteen year period, and has been a director of companies listed on the Australian Securities Exchange, Toronto Stock Exchange and the Stock Exchange of Thailand.

He was responsible for the financing and development of the Paulsens gold mine and oversaw feasibility studies for the Casposo gold and silver mine in Argentina and Nifty Sulphides copper mine. Brett managed site activities during development of the Three Mile Hill gold mine, and was Project Director for the evaluation and construction of the Pillara, Goongewa and Kapok lead zinc mines.

Ronnie Beevor - Non-Executive Director

Ronnie is an investment banker and was Head of Investment Banking at NM Rothschild & Sons (Australia) Ltd. He has had an extensive involvement with the natural resources industry, both in Australia and internationally.

Formerly a Director of Oxiana Limited, which successfully developed the Sepon gold-copper project in Laos, as well as the Prominent Hill copper-gold project in South Australia, Ronnie is a Senior Advisor to Gryphon Partners Advisory Pty Ltd, a subsidiary of Standard Chartered PLC and serves on a number of listed resource company boards.

Tim Netscher - Non-Executive Director

Tim is a Chemical Engineer, and holds a commerce degree and a MBA. He has worked in a number of countries, in roles spanning marketing, operations management, project management (from concept studies through to large scale project implementation) and business development. Tim has held senior positions with Impala Platinum Ltd, QNI Limited, PT Inco, Vale and Newmont.

Tim has significant open pit mine development experience, and whilst at Newmont held overall responsibility for ramping up the Boddington Gold Mine, a large tonnage, low grade project similar to the Bullabulling Gold Project.

Tim is currently Managing Director and Chief Executive Officer of Gindalbie Metals Limited, and is a Non- Executive Director of Industrea Limited, both ASX 200 companies.

David McArthur - Chief Financial Officer

David McArthur is a qualified Chartered Accountant who has spent almost 30 years working in the publicly-listed resources sector. 

An Australian, David's experience includes taking companies from start up through to successful gold mining operations, an example of which is the Kundana mine, a gold producer based just outside of Kalgoorlie. 

David was appointed CFO and Finance Director of the ASX-listed gold producer Dioro Exploration NL, a 100,000 ounce+ per annum producer also in Kalgoorlie, where he worked for 15 years. 

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Taken from Company website 03.01.2013 for more information please click here