Weekly Gold Report

These are the top 5 announcements for the week ending 23 Feb 2007

Goldstar Resources NL (GDR) has announced a 110% increase in tonnage of the Tubal Cain reef system to 2.3 million tonnes, following an upgrade of the geological model of the dyke system and the potential high-grade reef/breccia zone contained within the dyke to a depth of 600 metres. The company also said that recent drilling has increased the number of identified potential high-grade reefs from 15 to 27. 

Centamin Egypt Ltd (CNT) has approved the development of Egypt’s first modern gold mine at the Sukari Gold Project, following the completion of the feasibility study. With a capital cost of $US216m, the mine is expected to produce around 200,000 ounces p/a for 15 years at an average cash operating cost of $US$290 per oz. The 8.06 Moz resource has not been closed off and the 10 drill rigs currently operating are expected to increase resources and the production profile. 

Ballarat Goldfields NL (BGF) has advised shareholders that the supreme court of Victoria issued and order approving the scheme of arrangement to merge the company with Lihir Gold Ltd. The scheme will become effective on the 26^th of Feb 2007 and shares in BGF will be suspended after close of trading on that day. 

Emperor Mines Ltd (EMP) has received notice from Barrick, managers of the Porgera Joint Venture, confirming the upgrade to the mineral Reserve at the Porgera mine. The total Reserve has increased to 9.40Moz, of which EMP’s share is 1.88Moz. 

Iamgold Corporation (IGD) has established a share sale facility to assist shareholders in selling their shares when IGD delists from the ASX, expected to be the 30^th of March 2007. This facility provides a way for IGD shareholders to sell their shares on the Toronto Stock Exchange (TSX) during the three-month period immediately following the delisting from the ASX.

Gold Report Australia – www.goldreport.com.au

Weekly Gold Report

The following is the top 5 announcements for the week ending the 16th of Feb 2007.

Allstate Exploration NL (ALX) has reached an agreement with Beaconsfield Gold NL on the form of a proposal aimed at allowing Allstate and its subsidiary companies to emerge from deed of company arrangement. Under the proposal the Allstate group would immediately cease to be subject to the deed upon creditors voting in favour of the proposal and BGNL paying the first instalment. A creditors meeting is to be convened for the 27^th of February. 

Ballarat Goldfields NL (BGF) shareholders have voted in favour of the merger of Ballarat and Lihir Gold Ltd. 94.1% of Ballarat shareholders voted in favour of the merger that will create one of Australia’s most substantial gold companies. The merged company is hoping to be producing at least 1.25 million ounces by 2010. 

Haoma Mining NL (HAO) has put the Bamboo Creek plant on care and maintenance due to problems with reaching full production capacity. The processing plant requires significant funding for an up-grade and repairs and the Chairman, Mr. Gary Morgan, has advised the board that he will not advance further funds to the company after funding all of Hoama’s activities to the extent of $17 million to December 31^st 2006. 

Highlands Pacific Ltd (HIG) is restructuring of its hedge book and is raising US$20 million for working capital. The company’s current forward sales program comprising 250,000oz by December 2008 will be rescheduled out to December 2010. Resources Capital Funds (RCF) is a private equity funds manager based in the USA and has agreed to a placement representing 13.22% of Highlands. RCF will also receive 4 options for every 8 ordinary shares issued to RCF. 

Gryphon Minerals Ltd (GRY) has announced high-grade drill results from the Banfora Gold Project in Burkina Faso – West Africa. The step-out RC drilling program, targeting the northern zone of the Nogbele prospect, has returned significant drill intersections including 4m @ 65.45 g/t Au, 4m @ 11.01 g/t and 3m @ 11.15 g/t Au from shallow drilling. The company has also commenced a soil-sampling programme to cover a significant portion of the Banfora project.

Gold Report Australia – www.goldreport.com.au

Weekly Gold Report

The top 5 announcements for the week ending the 2nd of February 2007

Oxiana Ltd (OXR) announced a script offer for Agincourt Resources Ltd, which values Agincourt at $415 million. Oxiana is offering 0.65 Oxiana shares for each Agincourt share. The Agincourt board has recommended that shareholders accept the offer and Newmont Mining Corporation (Agincourts major shareholder), has signed an option and pre-bid acceptance deed in respect of its 19.9% holding in Agincourt. 

BMA Gold Ltd (BMO) has dramatically down-graded resources after underground infill drilling led to a significant re-interpretation of ore geology. Area 2 has been down-graded from 193,000oz @ 21.6 g/t Au to 75,000oz @ 10.9g/t Au. The company will wind down production, sell assets including the Rishton plant, reduce share capital and is planning to recapitalise the company. Administrators have now been appointed. 

Conquest Mining Ltd (CQT) has announced high-grade drill intersections at the Silver Hills deposit, on the Mt Carlton Project. Intersections include 109m @ 8.16 g/t Au, 44.7m @ 4.8 g/t Au and 30m @ 4.13 g/t Au. Drilling and exploration is continuing on 50m and 100m spaced sections to extend the deposit. 

Sub-Sahara Resources Ltd (SBS) has announced high-grade drill intersections at the Koka prospect in Eritrea (Africa). Drill intersections of 13m @ 24.75 g/t Au, 11m @ 14.72 g/t Au and 6m @ 42.36 g/t Au were returned to 200m vertical depth and over a distance of 450m. Drilling has intersected two offset parallel zones and mineralisation is open along strike in both directions and at depth. 

CGA Mining Ltd (CGX) (previously Central Asia Gold Ltd) has entered into a sale and purchase agreement for 100% interest in the Masbate gold project in the Philippines. The Masbate gold project contains resources of 5.071Moz of gold at a cut-off of 0.7 g/t Au. CGA has a production target of 200,000 oz per annum. CGA will pay US$51m for the project.

Gold Report Australia – www.goldreport.com.au