Great Basin Gold Limited
Mid-tier Gold producer - Witwatersrand Basin of South Africa and the Carlin Trend of Nevada, USA
Great Basin Goldis developing mining assets in two of the world's richest gold environments -- the Witwatersrand Basin of South Africa and the Carlin Trend of Nevada, USA, positioning the Company to grow substantially in value as it progresses towards its goal of becoming a low-cost mid-tier gold producer.
Anticipated low cost production from Hollister Project. The Technical Report on the Resource Estimate for the HDB gold project, completed in April 2007 indicates production from a resource of 2 million gold equivalent ounces at the Hollister property on the prolific and highly developed Carlin Trend in Nevada is expected in 2008. Hollister Development Block's annual gold equivalent production is expected at 160,000 ounces for six years, at an in- situ grade of 1.05 ounces (35g/ton) of gold per ton and a cash cost of US$ 278/oz. A N43-101 feasibility study was completed in June 2007.
Gold production at the Burnstone Mine, located in the world's most prolific goldfield, the Witwatersrand Basin in South Africa. The area contains a gold resource in excess of 8 million ounces of which 10,9 million are in the measured and indicated category. The updated Feasibility Study (Optimised Feasibility Study ), completed June 2007, for an initial operation in Area 1 and a small portion of Area 2 at Burnstone Mine indicates an annual average of 254,000 ounces of gold for 19 years at a cash cost of US$ 283/oz. Substantial additional resources are available for later phases of development.
Financially sound. Great Basin Gold has a healthy balance sheet and is in the process to finalise the project funding facility for a total of US$93 million to complete the Burnstone Project.
Extensive growth opportunities. Great Basin Gold's Hollister and Burnstone properties provide high potential for increases of currently outlined resources through additional on-site exploration.
Solid base for future growth. The company's two principle assets provide a solid base from which we plan to grow. In addition we have exposure to exploration projects in gold producing regions of North America, Southern Africa and the CIS.