Jump to content



Recommended Posts

In reply to: chookboy on Monday 17/03/08 08:21pm

Goodday Chookboy :

I certainly didnt expect much of a price until we see the next qty in April, that is when we will start to see the gold production from the Tassie Reef starting to ramp up to a reasonable level, I will be satisfied if I see close to 12000 oz for the qty and maybe 17000z for the next qtr and hopefully 23000oz from then on .

Remember the Malasians that just bought in a couple of weeks go, bought at 28c a share and that was for 20% of the company so they must a little bit of trust. They are not here for the short term.

There is lots of drilling happening in the main shaft as well as Pease Creak and Stavely near Hamiton and I guess we will see some good results later in the year especially from the the main shaft as they have 2 drills there and they have to put the rest of the zone 21 results in also.

Nothing has changed for me, I still will wait for at least $1 and see what happens in the lead up to that to decide wether to hold for longer.

As they say in the classics, "slowly, slowly, catchy Monkey".


I see Gold has hit $A1100 today, that also helps me.

Good Luck R


Link to comment
Share on other sites

  • Replies 162
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

In reply to: chookboy on Monday 17/03/08 09:21pm

Yes i am still here, a long termer you might say...


Pleasant Easter reading article below..


Beaconsfield poised for growth after rockfall



By Ben Sharples


March 24, 2008 11:46am


MINER Beaconsfield Gold spent years trapped in a joint venture without any direction until a fatal incident at the group's gold mine two years ago set about an evolution for the company.

Few had probably heard of the town of Beaconsfield north west of Launceston in Tasmania prior to Anzac Day 2006, but a significant seismic event at 9.23pm that evening soon changed all that.


The Beaconsfield gold mine was thrust into the psyche of Australians everywhere and soon became front page news across the world after a rock fall killed one miner and trapped two others.


The plight of the two trapped miners is well documented, but the event appears to have been the catalyst for a virtual rebirth of the project's joint owner Beaconsfield Gold.


"The events of Anzac Day were very tragic, somebody was lost there and it was a huge ordeal for the two guys who were rescued, but the company has been able to achieve quite a lot since then," Beaconsfield Gold chief executive Bill Colvin told AAP.


This is no understatement.


Since the rock fall, Beaconsfield Gold has bought out its joint venture partner and operator of the miner - Allstate Explorations NL - closed out its gold hedging positions and attracted a cornerstone investor.


"The company is now poised for growth," Mr Colvin said.


"We've cleaned up our balance sheet, we're bringing our mine back at a time of record high gold prices and we have great exploration for further gold discoveries."


The Beaconsfield mine has a rich history. Early underground mining extracted about 840,000 ounces of gold between 1877 to 1914 prior to the outbreak of the first World War and the operations closure.


The mine lay dormant for 85 years until joint venture partners Allstate and Beaconsfield Gold restarted the operation in 1999.


The two companies, however, soon fell into financial trouble, with processing plant problems consuming large amounts of cash and eventually pushing Allstate into administration and Beaconsfield Gold into receivership in 2001.


Beaconsfield Gold was able to recover and recapitalise after the plant problems were sorted out and the operation started generating cash, but the story was vastly different for mine operator Allstate.


A decision by the Allstate administrator to externalise about $48 million of the company's debt, selling it to Macquarie Bank for $300,000, left the company with an additional hefty debt on top of the $25 million already owed to the bank.


"We had two companies with different corporate objectives," Mr Colvin said.


"Allstate was in administration, they were really focused on just trying to generate cash and exploration wasn't a key priority ... it meant that it was a very inwardly focused arrangement.


"It was frustrating for Beaconsfield because we saw the exploration potential and that wasn't wholly embraced by the joint venture."

Enter Anzac Day 2006.


After the incident Macquarie sold the debt it had purchased from Allstate to Beaconsfield Gold for about $2.85 million after a tender process, with that money then distributed among the mine workforce.


This led to Allstate owing Beaconsfield Gold about $48 million and set in motion the eventual buyout of the mine operator in 2007, placing the gold operation under single ownership since it restarted.


Beaconsfield Gold restarted mining at the 100,000 ounce per year operation in June 2007, 14 months after the fatal rock fall, with the company employing a remote mining method in the high grade zone - where the incident occurred.


This means that no one will have to enter that area of the mine during the production phase.


There is also a renewed focus on exploration.


"It was a painful time the last six years but now we really have got an opportunity where there has been very little modern exploration," Mr Colvin said.


"You don't find many situations where you have a two million ounce high grade orebody and virtually no drilling around it looking for repeats of that system.


"That's one of the main priorities for us going forward now."


The company is also starting to look outside of the mine, purchasing gold prospective ground to the east of the operation and putting a renewed focus on its exploration ground in Victoria.


Beaconsfield Gold's rapid evolution has also attracted the interest of major tin producer Malaysia Smelting Corporation (MSC), which has become a cornerstone investor, paying close to $20 million for an 18.9 per cent stake in the gold miner.


"We've often said that we've had a few boxes to tick to get this situation sorted and I think we've really now ticked those boxes," Mr Colvin said.






Link to comment
Share on other sites

  • 1 month later...

In reply to: nifty49 on Monday 24/03/08 11:22am

Will be trying to see if I can pick up a small parcel today. Not at home so have had to use some rough estimations. Market Capital approx. $50m


Hoping for 20,000 oz in September quarter = approx. $20m per quarter or $80m annually in sales. Not sure about the costs involved but will estimate $40m


Quarterly report suggested possible exploration potential still to be achieved


Long straw but if they were successful in their court claim against insurers then close to $50 m (or close to current market capital to come from that). Won't hold my breath on that one but it would be nice.

Link to comment
Share on other sites

  • 3 weeks later...

From todays AGE... from left field...


High-grade copper found near Grampians




ENERGY and Resources Minister Peter Batchelor will be pleased. A grant under the State Government's Rediscover Victoria Drilling (RVD) program has helped Beaconsfield Gold NL make an exciting high-grade copper discovery at its Stavely prospect near the Grampians.


Beaconsfield is expected to confirm the find as early as today, with mining circles buzzing with talk that the first of two deep holes has returned copper hits of up to 10%, along with gold, silver and nickel mineralisation.


The Stavely prospect lies in flat cropping country south of the Grampians, about 110 kilometres west of Ballarat.


Beaconsfield has been following up shallow low-grade supergene copper mineralisation at Stavely with a view to outlining sufficient 0.5-1% copper mineralisation to underpin a project that would produce about 5000 tonnes of copper annually.


A stock-exchange-compliant resource estimate is being prepared.


But the real excitement has come from high-grade copper hits from sulphide zones in the first of two deep holes drilled in a four-hole program partly funded by the RVD program.


Somewhat ironically, the program's aim was to confirm the Avebury-style nickel mineralisation in Tasmania.


While nickel hits are believed to have been returned from the first of the deep holes, it is the high-grade copper hits below 100 metres in an extensive contact zone that is causing excitement.


Confirmation of the high-grade hits is likely to prompt Beaconsfield to launch an aggressive step-out drilling program along the contact zone.


The deep drilling program at Stavely was one of six that this year received grants totalling $375,000 to help meet the cost of exploration drilling at prospects where it was considered there was a soundly based chance of finding an economic deposit.


The payback to taxpayers comes from jobs and subsequent capital investment, more often than not in hard-up regional areas.


Beaconsfield is best known for its now wholly owned namesake goldmine in Tasmania where production is being returned to full levels after the 2006 rock fall that killed Larry Knight and trapped Todd Russell and Brant Webb for 14 days.





Link to comment
Share on other sites

  • 1 month later...

In reply to: nifty49 on Tuesday 10/06/08 07:13am

Unfortunately the BCD are not handling the coroners case in the best manner at the moment. I would have been disappointed if I lost a love one due to a workplace accident and the employers lawyers walked out. Not nice!

Link to comment
Share on other sites

  • 2 weeks later...



6 AUGUST 2008



The appeal against the Supreme Court of VictoriaÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s judgement in the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s $45.5 million business interruption insurance claim against QBE was heard by the Honourable: Justice Buchanan, Justice Pagone and Justice Dodds-Streeton in the Supreme Court of Victoria Court of Appeal on 4 August 2008. Their Honours have reserved judgement for a future date not yet specified.


For further information contact:

Bill Colvin ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ Chief Executive Officer

t: 61-3-9909-7401

e: enquiries@beaconsfieldgold.com.au

w: www.beaconsfieldgold.com.au

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Create New...