4 million, while the Group benefited from higher cash inflow from Bronzewing
and Jundee as well as new operating cash contributions from Midas and Ovacik.
Sydney, Australia, May 4, 2011 - (ABN Newswire) - Artemis Resources Limited (ASX:ARV) is pleased to announce that first pass drilling at its Yandal gold project in the gold rich Yandal- Bronzewing
greenstone belt in Western Australia, has intersected a promising high-grade gold zone at the Forked Stick prospect and found exciting southern extensions of the historic Lowlands resource.
3 million oz Bronzewing
Gold Mine (30km to the south).
Attributable production was strong, with increased output from Tanami Operations, Martha, Mt Charlotte and Ovacik offsetting lower production from the Super Pit, Bronzewing
The Yandal Project has a strategic location within 30km of a 3mtpa gold mine plant at Navigator Resources' (ASX:NAV) (PINK:NAVZF) Bronzewing
and Wiluna mines situated in the Yandal,
Navigator Resources Limited (ASX:NAV) has discovered high-grade gold intersection from the Eagle prospect at its Bronzewing
Gold Project in Western Australia.
Pilkington, a former senior steward of the Jockey Club, bred Minivet out of his useful mare Bronzewing
but had been frustrated to see him seemingly in the grip of the handicapper of late.
Accordingly, despite improved operating performance, a writedown of $30 million (US$15m) was also taken in respect of Bronzewing
At Yandal, gold sales decreased 38% in the first quarter of 2005 as compared to the first quarter of 2004, primarily due to the sale of the Bronzewing
mine in 2004.
The Company acquired the Bronzewing
Gold Project in late 2009, and this Project recommenced production in April 2010.
1) 2004 includes Jundee for the full year and Bronzewing
for the first