Australian (ASX) Stock Market Forum

AMG - Ashby Mining

27 June 2010
Ashby Mining Limited is an Australian mineral resources company, which is focused on developing a gold production business in the Charters Towers region in Northern Queensland, Australia. Ashby Mining holds interests in the Projects and has agreements in place to acquire the Black Jack Gold Processing Facility, Far Fanning, Hadleigh Castle and Maroon Gold.

The Company has secured rights to a tenement package covering over 600km2 that contains historical mines, mineral resources, highly prospective exploration potential and a gold processing facility.

Ashby Mining plans to restart gold production from historical open pit gold mines after drilling and study work are complete. Exploration and project development will be ongoing to maintain a robust project pipeline.

On completion of the Transaction, Ashby Mining’s Charters Towers gold portfolio will consist of a consolidation of advanced Projects (processing facility and historical mines on Mining Leases) and early-stage exploration assets in Australia, consisting of:

1. The Black Jack Gold Processing Facility – a fully permitted gold processing plant located 8 km from Charters Towers with potential to process up to 340,000 tonnes of mill feed per year. The project also contains historic open pit and underground gold mines and Mining Leases.

2. The Far Fanning gold project and Exploration Leases – Far Fanning is a permitted Mining Lease where historic underground and open pit mining halted in 2004. The project is located 45 km NE of Charters Towers. Historical production at the mine was 44,900 ounces gold from 660,000 tonnes of ore at average 2.2 g/t gold and the project currently has an Inferred Mineral Resource of 2.33Mt at 1.8g/t Au for 138,000 ounces gold.

3. The Hadleigh Castle gold project and Exploration Leases - Hadleigh Castle is a permitted Mining Lease where historic underground and open pit mining halted in 2005. The core focus of the project comprises the historical open pit gold mine and a prospective Exploration Target. The project also encompasses a significant expanse of the “Rishton Mine Corridor”, a major regional trend that is host to numerous known gold deposits and historical mines. The project has a total Inferred Mineral Resource for near surface and underground of 2.4 Mt at 3.2 g/t Au for 246,800 ounces gold.

4. Advanced Exploration Projects - A robust pipeline of Advanced Exploration Projects on existing Mining Leases and with shallow historical open pits.

It is anticipated that AMG will list on the ASX during April 2023.

Listing date13 April 2023 ; 11:00 AM AEDT ##
Company contact details
Ph: 1800 996 736
Principal ActivitiesMining
Industry groupTBA
Issue Price AUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeAMG
Capital to be Raised$15,000,000
Expected offer close date15 March 2023
UnderwriterCLSA Australia Pty Ltd (Underwriter/Lead Manager)