Edna May

The Edna May gold project is located north of Westonia town approximately 10 km north of Carrabin and 300 km east of Perth in Western Australia.

A January 2009 positive feasibility study indicated 738,000 oz of gold reserves of which 64% are proved ore reserves.

The deposit would be developed as a truck and shovel open pit mining operation that would have a low waste to ore strip ratio (1.9:1.0) and a 6.3 year mine life. Further drilling and the release of a new ore reserve from the Greenfinch Resources have the potential to increase the project's mine life.

The pit will be mined in four stages based on three optimized gold price economic boundaries. Separate slope design domains apply to the pit design. The low strip ratio allows the mine to employ a single mining fleet for the mine life, except for a 12 month period from year 3.5 when a second mining fleet will be deployed at the site.

Capital cost for the project is estimated at A$92M which is inclusive of a twelve month plant construction, seven month pre-strip, first fill, infrastructure, accommodation and working capital for the project.

The process plant design envisions a conventional SABC FF circuit (SAg mill Ball mill pebble Crusher Feed Forward) able to provide for a 92% metallurgical recovery. Process plant throughput is estimated at 2.7 Mtpa and ramping up to 3.2 Mtpa years 3 and onward. Annual gold production was estimated at 100,000 oz.

The mine site is within 3 hours drive from Perth and Kalgoorlie and mining equipment and service personnel are freely available and locally accessible.