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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. 

Full CGA Mining profile here
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CGA Mining in pre-open pending 'operational matter' announcement

11th Jul 2011, 2:40 am

CGA Mining (ASX: CGX, TSX: CGA) has been granted a trading halt by the ASX pending an 'operational matter' announcement, with the company's shares placed in pre-open.

CGA Mining did not elaborate where the operational matter in located, but recently has been  ramping up exploration at the Masbate Gold Project in the Philippines.

Supporting the increased exploration is a US$20 million budget for financial year 2012, almost triple last year’s spend.

CGA Mining has planned to undertake an extensive 144,000 metres of reverse circulation drilling, and 28,000 metres of diamond drilling, principally focused on converting Inferred resources to Reserves.

Masbate is the largest gold project in the Philippines and has a total Indicated Resource base of 4.55 million ounces, a total Inferred Resource base of 3.22 million ounces and a Probable Reserve of 3.03 million ounces.

 

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