Additional Information
Market: ASX, TSX
Sector: General Mining - Gold
EPIC: CGX
Latest Price: A$1.74  (7.76% Ascending)
52-week High: A$2.95
52-week Low: A$1.58
Market Cap: A$585.95M
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CGA Mining
www.cgamining.com

CGA Mining (ASX:CGX, TSX:CGA) and its subsidiaries, is a producing gold mining company, with its principal asset being the +200,000 ounce per annum Masbate Gold Mine in the Philippines. The Masbate Gold Project has total resources of approximately 7.7m ounces and and reserves of 3m ounces.

The Masbate Gold Project is the largest operating gold project in the Philippines. Construction on the process plant was successfully completed in February 2009, less than 2 years after acquisition of the project, with the construction and installation of the power plant completed in April 2009. First gold was poured on 12 May 2009, with over 1 tonne of gold poured by September 09 and total production in excess of 150,000 ounces in the first year of operation. The project is forecast to produce over 200,000 ounces per annum and an expansion to 6.5mtpa is planned in 2010/2011 to further increase the production profile of the project.

The Company is focussed on enhancing the value of the Masbate Gold Project by both production growth and an aggressive exploration program on the highly prospective tenements and identifying new growth opportunities, through judicious and profitable acquisition programmes. 

Pdf

CGA Mining hits new record daily rate of output at Masbate gold project in the Phillippines

30th Nov 2010, 4:07 pm

CGA Mining (TSX:CGA, ASX: CGX) said Tuesday it has reached a new record throughput level at the Masbate gold project in the Phillippines, with the mill having processed 22,562 tonnes on 27 November.

This represents a 3% increase from the company's previous record set a week earlier at 21,831 tonnes on 15 November.

The company said the new record of 22,562 tonnes, at a 94% availability, is equivalent to an annual throughput of approximately 7.5Mtpa - in excess of 90% above design capacity.

During the month of November, the plant acheived a number of milestones, including a daily throughput rate of 94dtph and the highest six days of productivity thus far.

The Masbate gold project is the largest of its kind in the Philippines and was developed with first gold poured on 12 May 2009. The project has a total indicated resource base of 4.55M ounces, a total inferred resource base of 3.22M ounces and a probable reserve of 3.03M ounces of gold. At steady state operations, the project is forecast to produce over 200,000 ounces per year.

The company is currently completing a US$15M investment program designed to upsize throughput to 6.5Mtpa.

CGA was up 1.6% on Tuesday, trading at $3.06 as of 10:31 am EST.

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