Annual Report
Highlights for the year include:
· On track to deliver first new metal mine in UK for over 40 years.
· Successful completion of A$182.7 million Fundraise and Share Purchase Plan to finalise funding of the Project through to positive cash flow.
· Construction progressing well - on budget and on schedule. Site clearing and haul road completed with structural concrete placement well advanced.
· Drilling underway of six diamond drill holes to provide geotechnical information to review pit slopes with intention to steepen slopes and increase ore reserves.
· Drakelands Mine on schedule to commence production by Q3 2015.
· Appointment of Russell Clark as Managing Director.
· Appointment of Ronnie Beevor and Nick Clarke as independent directors.