Laverton Gold Mine
Encyclopedia
The Laverton Gold Mine is a gold mine 9 km east of Laverton, Western Australia
. It is currently owned by Crescent Gold Limited and has recommenced mining in August 2009, after having been shut for just over one year. The mine is sometimes also referred to as the Barnicoat Gold Mine, named after its processing facility.
The mine is located on the native title
of the Wongatha aboriginal people, whom Crescent signed a Land Access Agreement with on 2 March 2005. In exchange for access, Crescent granted the representative of the Wongatha, the Wongatha Claim Group, up to 350,000 Crescent shares and between 0.2 and 0.4% in royalties of the future gold production. A similar agreement between the Wongatha and the owners of the BrightStar Gold Mine
had taken place in 2004.
, who closed it in 1998. Sons of Gwalia sold the mine in July 2002 to Focus Technologies Limited for A$2.68 million, who changed their name to Apollo Gold Mining in December 2002.
In June 2004, Apollo changed its name to Crescent Gold Limited.
The mine reopened after commissioning in March 2007, with the plant upgrade having finished in August 2007. Mining ceased once more on 7 July 2008, the official reason being that Crescent was to review the operation. Crescent incurred a loss of A$28.8 million for the 2007-08 financial year, leaving the company with A$50 million in cash in hand.
In February 2009, Crescent and Barrick Gold
signed a memorandum of understanding
in regards to ore from Laverton being processed at Barrick's Granny Smith Gold Mine
rather than Crescent's Barnicoat processing facility, which would remain in care and maintenance.
Mining and haulage operations re-commenced in August 2009, with ore to be processed at the processing plant of Granny Smith, 20 km away.
A first gold pour at Granny Smith from Crescent's ore was announced on 21 October 2009.
Focus Minerals Limited, owner of the Coolgardie Gold Mine
, placed a friendly takeover offer for Crescent Gold Limited in June 2011 which would place Focus in the top-five of the Australian gold producers with an annual production of 230,000 ounces. The bid values Crescent at A$66 million. Previous to the offer, Focus had already supplied the struggling Crescent with A$13 million in loans.
Western Australia
Western Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east...
. It is currently owned by Crescent Gold Limited and has recommenced mining in August 2009, after having been shut for just over one year. The mine is sometimes also referred to as the Barnicoat Gold Mine, named after its processing facility.
The mine is located on the native title
Native title
Native title is the Australian version of the common law doctrine of aboriginal title.Native title is "the recognition by Australian law that some Indigenous people have rights and interests to their land that come from their traditional laws and customs"...
of the Wongatha aboriginal people, whom Crescent signed a Land Access Agreement with on 2 March 2005. In exchange for access, Crescent granted the representative of the Wongatha, the Wongatha Claim Group, up to 350,000 Crescent shares and between 0.2 and 0.4% in royalties of the future gold production. A similar agreement between the Wongatha and the owners of the BrightStar Gold Mine
BrightStar Gold Mine
The BrightStar Gold Mine is a gold mine located 35 km south-east of Laverton, Western Australia.It is operated by A1 Minerals Limited, having commenced production in December 2009....
had taken place in 2004.
History
The mine was owned by Sons of GwaliaSons of Gwalia
Sons of Gwalia was a Western Australian mining company which mined gold, tantalum, spodumene, lithium and tin.Sons of Gwalia was Australia's third-largest gold producer and also controlled more than half the world's production of tantalum, before entering administration in August 2004 following a...
, who closed it in 1998. Sons of Gwalia sold the mine in July 2002 to Focus Technologies Limited for A$2.68 million, who changed their name to Apollo Gold Mining in December 2002.
In June 2004, Apollo changed its name to Crescent Gold Limited.
The mine reopened after commissioning in March 2007, with the plant upgrade having finished in August 2007. Mining ceased once more on 7 July 2008, the official reason being that Crescent was to review the operation. Crescent incurred a loss of A$28.8 million for the 2007-08 financial year, leaving the company with A$50 million in cash in hand.
In February 2009, Crescent and Barrick Gold
Barrick Gold
Barrick Gold Corporation is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units located in Australia, Africa, North America and South America...
signed a memorandum of understanding
Memorandum of understanding
A memorandum of understanding is a document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in...
in regards to ore from Laverton being processed at Barrick's Granny Smith Gold Mine
Granny Smith Gold Mine
The Granny Smith Gold Mine is a gold mine located 20 km south of Laverton, Western Australia near Mount Weld.It is operated by Barrick Gold and, since the beginning of 2008, part of its Yilgarn South operation, which consists of Granny Smith, the Lawlers Gold Mine and the Darlot-Centenary Gold...
rather than Crescent's Barnicoat processing facility, which would remain in care and maintenance.
Mining and haulage operations re-commenced in August 2009, with ore to be processed at the processing plant of Granny Smith, 20 km away.
A first gold pour at Granny Smith from Crescent's ore was announced on 21 October 2009.
Focus Minerals Limited, owner of the Coolgardie Gold Mine
Coolgardie Gold Mine
The Coolgardie Gold Mine is a gold mine located at Coolgardie, Western Australia. The Coolgardie Gold Mine is not one single mine, but rather a generic term to describe a diverse group of mines - in essence, a mining locality....
, placed a friendly takeover offer for Crescent Gold Limited in June 2011 which would place Focus in the top-five of the Australian gold producers with an annual production of 230,000 ounces. The bid values Crescent at A$66 million. Previous to the offer, Focus had already supplied the struggling Crescent with A$13 million in loans.
Production
Production figures of the mine:| Year | Gold production |
Grade | Cost per ounce |
| 1994-95 | 36,952 ounces | 1.5 g/t | |
| 1995-96 | 36,897 ounces | 1.28 g/t | |
| 1996-97 | 33,786 ounces | 1.02 g/t | |
| 1997-98 | 47,494 ounces | 1.54 g/t | |
| 1998–2006 | inactive | ||
| 2006-07 | 7,400 ounces | ||
| 2007-08 | 56,195 ounces | ||
| 2008-09 | inactive | ||
| 2009-10 | 73,474 ounces | 1.43 g/t | |
Sources
- The Australian Mines Handbook: 2003-2004 Edition, Louthean Media Pty Ltd, Editor: Ross Louthean
- Western Australian Mineral and Petroleum Statistics Digest 2008 Page 34: Principal Mineral and Petroleum Producers - Gold