Add to watchlist:

Only registered members can add into watchlist !

Register here !
Bullabulling Gold
Deal Bullabulling Gold Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

Bullabulling Gold Limited is an Australian and UK publicly quoted mining exploration company headquartered in Perth, Western Australia. The Company is the successor entity of GGG Resources plc. The shares trade on the Austalian ASX and the London AIM market. Bullabulling Gold is the 100% owner of a large previously producing mine...

Read more

UPDATE: Bullabulling Gold plots busy year

'The full feasibility study is to evaluate relocation of the infrastructure to extract resources within the exclusion zones. We believe that this could potentially extend mine life and improve project economics,” Shore Capital said.

---Adds broker comment---

Bullabulling Gold (LON:BGL, ASX:BAB) has confirmed that it remains on track to deliver the first full draft of the pre-feasibility study (PFS) report for its gold project by the end of this month.

The company said the key PFS activities still outstanding are: review and finalisation of the mining schedule; risk assessment; financial modelling; project development schedule; finalisation of the scope for the feasibility study.

The review of mine scheduling will attempt to bring forward higher grade ore, mined late in the project in the preliminary schedule, to address the dip in gold production during years six and seven of the mine’s life.

As with the first full draft, the final PFS production schedule and financial assessment are expected to be complete by the end of January.

This year will be a busy one in which Bullabulling makes the transition from an exploration company to a development company.

Once the PFS is out of the way, work on the full feasibility study will commence from the beginning of February 2013.

In addition to refining and confirming work carried out during the PFS, the feasibility study will evaluate a number of opportunities that have been identified with potential to improve project economics.

On the resource side these include: drilling from the newly acquired M15/552 mining lease to evaluate down dip continuation of higher grade mineralisation at the southern end of the Phoenix pit; testing for strike and depth extensions to high grade mineralisation in the Edwards and Gryphon pits.

The company is also looking to optimise its waste rock dumping strategy to reduce haulage costs. Further geotechnical studies to refine pit slope angles are also planned, which could potentially reduce waste mining.

Bullabulling said it will size up the owner-miner model as a means of reducing operating costs.

Also under consideration is the relocation of infrastructure to extend mining between the Phoenix, Dicksons and Bone Crusher pits, while the firm is also mulling inclusion of the Gibraltar project into the production schedule.

Broker Shore Capital’s Yuen Low notes that two of the pits in the north of the Bullabulling project are separated from the main pit by the Great Eastern Highway and power transition lines, respectively.

“Mining exclusion corridors stretching 100m and 200m either side of highway and transmission lines were modelled; the full feasibility study is to evaluate relocation of the infrastructure to extract resources within the exclusion zones. We believe that this could potentially extend mine life and improve project economics,” Shore Capital said.

On the processing side, Bullabulling intends to undertake additional metallurgical test work aimed at improving gold recoveries and review the tailings storage facility design, with a view to reducing construction and sustaining capital costs.

The group continues to evaluate alternative power supply options as it seeks to lower energy costs.

It is also hoping to recruit more local workers to reduce travel and accommodation costs.

At the end of 2012, the company had cash and deposits totalling US$4.1 million.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.