Overview
Company Overview
Bendigo Mining Limited (ASX: BDG) is an Australian gold producer which owns and operates two producing underground gold mines in Australia; the Kangaroo Flat Mine in Bendigo, Victoria and the Henty Gold Mine which is situated on the West Coast of Tasmania. On the 7th of May 2010, the Company acquired a 20% interest in West-African gold explorers GoldStone Resources, who have exploration assets in Ghana and Senegal.
The Kangaroo Flat Mine is located in the Bendigo Goldfield which is centered on the urban area of the City of Greater Bendigo. Bendigo is located 125 km northwest of Melbourne in the central Victorian Goldfields and has a population of 100,000 people making Bendigo the third most populous city in Victoria. The Bendigo Goldfield has the second largest historical production for a goldfield in Australia (after Kalgoorlie's Golden Mile) with an historic total production of 22 million ounces of gold from over a century of mining.
The Henty Gold Mine was acquired in July 2009 and has produced in excess of one million ounces of gold over a 13 year period. The Henty Gold Mine is situated 10 km south of the Rosebery base metals mine, on the West Coast of Tasmania.
GoldStone is an AIM-listed West African gold exploration company with a successful and experienced management team based in South Africa that have assembled a highly prospective package of properties in West Africa.
The Company’s key asset is the Homase project in the Ashanti Gold Belt in Ghana, where GoldStone may earn up to an 85% interest. The GoldStone public release on 21 April 2010 announced a 282,608 oz gold resource, estimated in accordance with JORC guidelines, beneath and along strike from the Homase main pit. The lease area is believed to have excellent exploration potential and is located some 15 km NE of AngloGold Ashanti’s 42Moz Obuasi Gold Mine.
Other GoldStone assets include the Manso Amenfi licence in Ghana, which GoldStone believes is prospective as it lies along a trend of intense artisanal gold mining and in a similar belt of rocks to Perseus’s Ayanfuri gold deposit, located some 50 km to the northeast. The Company also has a large 471 km² exploration license in Senegal near the border with Guinea. The ground is to the south of Randgold’s licence containing the 3.4 Moz Masawa discovery and along trend from Sabodala (2.2 Moz), Yatela (2 Moz) and Sadiola (10 Moz) mines.
Bendigo Mining is investing significantly to create a sustainable production base through both continued exploration and development at its Australian gold operations, and through its investment in GoldStone Resources.
Bendigo Mining's aim:
The Company's goal is to be a successful mid-tier gold mining company, operating multiple mines in a responsible manner and achieving strong financial returns. Our strategy is to discover, operate and acquire quality gold assets to transform the company into a 500,000 ounces per year business within five years. We will do this by:
- Motivating and developing our people to maximise the performance of our existing operations.
- Exploring directly and in partnership with others.
- Developing, acquiring and investing in projects where we can add value.
- Demonstrating integrity and commitment in everything we do.
Our Competitive Advantages:
We are:
- Experienced mine developers, operators and explorers
- Competent and safe operators.
- Equipped with the skills to realise the potential of our projects.
- Able to rapidly assess new business opportunities, evaluate project risks and act decisively.
We will target opportunities that are too big for small companies, and too small for large producers.
Our team members will:
- Be accountable for their actions and decisions.
- Deliver quality work.
- Be reliable and innovative.
- Value the community and environment in which we operate.
