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Poor Man's Gold |
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| Homeland | Australia | Stock Exchange Listing | Sydney | Melbourne |
| Currency | AUD | Symbol | DOM |
| ISIN | AU000000DOM3 |
About The Company
Dominion Mining Limited is a publicly listed Australian gold producer and explorer, with a high-margin gold mine in South Australia and a suite of prospective exploration projects spanning three Australian States.
Dominion's shares are quoted on the Australian Stock Exchange (ASX ticker: DOM) while Sponsored American Depositary Receipts representing its shares are traded in the United States of America.
Dominion's key asset is the 100%-owned Challenger Gold Mine located in South Australia, which has been in production since October 2002, initially as an open pit operation before subsequently transitioning to full-scale underground production in early 2005.
To 30 June 2006, Challenger had produced more than a quarter of million ounces of gold at an average cash operating cost of A$332 per ounce, cementing Dominion's position as one of Australia's leading mid-tier gold producers.
Production from Challenger is forecast to continue at the rate of approximately 100,000 ounces per annum, with the Company's core objective being to replace annual production in order to maintain a minimum 3-year mine life. Dominion has a commitment to maintain the highest standards of health, safety & environment at all its operations, and has an excellent safety record at the Challenger mine site. Underpinned by cash flow from Challenger, Dominion has a significant commitment to exploration for gold, base metals and other commodities in Australia, with much of this effort focused on intensive exploration at Challenger to maintain and, potentially, increase its gold reserve inventory. Regional exploration programs are underway at prospective projects including the South West Yilgarn Project in Western Australia and the Wongan Hills base metal project, located 120km north east of Perth also in Western Australia. The objective of these programs is to generate a substantial new mineral discovery with the potential to add significant value to the Company. |
The Projects
Challenger Gold Mine | Flagship Project
Following the completion of open pit mining operations in April 2004, Challenger transitioned to underground mining operations in the second half of the year, commencing full-scale underground production by mid-2005. The Challenger underground mine was developed to extract high-grade gold resources located directly beneath the open pit. The underground orebodies occur as narrow, high-grade, sub-parallel lodes linked as dilational zones within an asymmetrical fold system. The folds and lodes have predictable and consistent down-plunge continuity. |
Four principal ore positions have been delineated - the M1 and M2 lodes, which between them contains over 98% of the gold in underground reserves - the M3 and the M3 Shadow Zone. All four lodes remain open at depth, while drilling of the M1 lode has demonstrated the continuity of the orebody to approximately 1000m below surface, although it is known to persist to at least 2km down-plunge..
Infrastructure
The main Challenger project infrastructure covers an area of approximately 300 hectares and includes the processing plant, a mine village housing up to 140 personnel working a fly-in /fly-out roster, reagent and fuel storage facilities, offices, workshops, a laboratory, ancillary buildings and haul roads.
Water is supplied from a process water borefield located approximately 3 kilometres west of Challenger. The walls of the tailings dam are lifted as required to extend tailings storage capacity as the mine deepens.
A diesel power station, approximately 5 MW capacity, supplies power to the treatment plant, underground mine and village. 1500kVA capacity substations are installed underground, powered from this surface power station adjacent to the processing plant, located 1km from the underground portal.
Exploration
The Company's Board has made an ongoing commitment to 'growth through exploration', and in 2006/07 invested $8.513 million in the further evaluation of the exploration potential of the Company's project portfolio.
Within these greenfields projects Dominion has developed an extensive series of high quality targets, most notably in the Cundeelee (Tropicana Belt) Project (targeting gold) and several of the South West Yilgarn District Projects, including the Nanicup Bridge, Bullock Pool and Lake Magenta South Prospects and the
Wongan Hills Project (targeting gold and base metals) in Western Australia, as well as in the Barton West Project (targeting mineral sands) in South Australia.
For more detailed information about the projects and the company in general, please visit the website of Dominion Mining!
Contact:
| Phone | (61-8) 9426-6400 |
| Fax | (61-8) 9481 - 1378 |
| comsec@dml.com.au | |
| Website | www.dml.com.au |
| Address | Dominion Mining Ltd. |
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