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Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: MYG
Latest Price: A$0.07  (1.41% Ascending)
52-week High: A$0.13
52-week Low: A$0.07
Market Cap: A$33.43M
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Mutiny Gold
www.mutinygold.com.au

Mutiny Gold (ASX: MYG) is a diversified resource company focused on the exploration and development of the company's gold, copper and nickel tenements in Western Australia.

 

Mutiny’s main focus is the Deflector gold copper deposit which is located within the Gullewa project where gold production is forecast from 2012.

 

Full Mutiny Gold profile here
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Mutiny Gold in pre-open pending capital raising announcement

14th Jul 2011, 2:35 am

Mutiny Gold (ASX: MYG) has been granted a trading halt by the ASX pending a capital raising announcement, with the company's shares placed in pre-open.

Mutiny has not yet indicated where the potential capital injection will be allocated, but yesterday the company began highlighting to the market the potential of the Deflector Project in Western Australia.

The company has doubled the initial production target rate to 100,000 gold ounces annually, with the increase supported by extensions of both underground and open pit resources.

Recent drilling at Deflector testing the northern and southern resource extensions is the catalyst behind Mutiny's target, as results reinforced the company’s view of the potential for a significant increase in resources.

Mutiny said that the company has resolved to expand the scope of the Feasibility Studies to incorporate a re-assessment of Deflector, which is now expected to support production in the order of 100,000 to 120,000 gold ounces annually when fully ramped up.

Deflector already holds some resources in the higher confidence categories, with Measured 130,000 gold ounces and 12,000 tonnes of copper, and Indicated 105,000 gold ounces and 4,500 tonnes of copper.

The deposit contains a total resource of; 3.4 million tonnes at 5.4g/t gold, 4.7g/t silver and 0.8% copper for 590,000 gold ounces, 510,000 silver ounces and 25,500 tonnes of copper.

 

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