Location Laverton Country Australia Financial year 2009–10 | State Western Australia Production 73,474 Opened ? | |
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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.
Contents
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.
History
The mine was owned by Sons of Gwalia, 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.
Production
Production figures of the mine: