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This blog is brought to you by Gilbert & Samuels Company Limited, a financial advisory services and consulting company based in Suva, Fiji.
To contact the authors of this blog, please call telephones (679) 3342719, (679) 3544897 or e-mail

Sunday, August 05, 2007

Expressions of Interest sought for operating Vatukoula Gold Mine

Government is seeking Expressions of Interest from companies to operate the Vatukoula gold mine.

Vatukoula ranks among the world's longest producing gold mines and hosts a JORC compliant, world-class gold resource in excess of 5 million ounces.

The mine will appeal to middle to top tier companies seeking maximum exposure to the prevailing gold prices and an immediate expansion of its resource base.

Gold at Vatukoula is largely refractory and is associated with telluride minerals, accessory base metal sulphides and native silver. Free gold occurrences are limited.

The mine is linked by tar sealed road to Tavua town and all the way to Nadi International Airport.

Site facilities include a fleet of TORO LHDs, trackless jumbos, crushing, grinding, flotation, roaster and CIP circuits, two trailing dams, ancillary vehicles, an assay laboratory, stores, offices, a tennis club, golf course, an airstrip and staff housing.

In late 2005, the Vatukoula gold mine had prepared a schedule of capital and cash costs for ten years to 2015. Bulk of the capex was related to mining with development capex set at F$67 million out of a total of F$101 million.

The average cash cost was estimated at F$580/oz, against F$958/oz as the world spot price average.

For more details and technical issues, pls call The Director of Mines, Department of Lands and Mineral Resources, Private Mail Bag, Suva, Fiji on telephone (679) 3381611 extension 499.

Expressions of Interest are to be sent to The Director of Mines at the above mentioned address and will close on Friday, 31 August 2007, 4pm.

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