Normandy Mining plans to sell its entire 76% stake in Normandy Mt Leyshon to a company controlled by Australian Tanganyika Gold NL, according to the Melbourne Age. Normandy Mt Leyshon's only asset is the Mt Leyshon mine in Queensland, which ceased mining operations in February this year. Normandy Mt Leyshon will be renamed Leyshon Resources and will be focussed on exploration. As part of the deal, Normandy Mining will transfer certain exploration tenements in Queensland, as well as the Mt Leyshon Mine, and will assume the AUS$8.3 million cost of the mine closure and rehabilitation. In return, it will recieve shares worth 12% of the new company.
February 28, 2001
Mining ceased. The operation was producing gold by treating existing low-grade stockpiles of 5 million tonnes at 0.8 g/t gold. Treatment of stockpiles is expected to be completed in Jan-Feb/02 with operations expected to be closed by the middle of 2002. A comprehensive mine closure and rehabilitation plan covering remaining operations, closure, rehabilitation, decommissioning and post-closure monitoring has been implemented.
February 28, 2001
Mining ceased. The operation was producing gold by treating existing low-grade stockpiles of 5 million tonnes at 0.8 g/t gold. Treatment of stockpiles is expected to be completed in Jan-Feb/02 with operations expected to be closed by the middle of 2002. A comprehensive mine closure and rehabilitation plan covering remaining operations, closure, rehabilitation, decommissioning and post-closure monitoring has been implemented.
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