The Company’s principal business objectives are, and will continue to be, the acquisition, exploration, development and operation of gold resource properties.
In the near term, the Company intends to focus on re-establishing the Plutonic Gold Mine as a stable gold producer capable of producing 100,000+ oz of gold annually. To achieve this goal, the Company intends to focus on quality high-grade ounces, optimizing recoveries, incremental production from open pit and underground sources and resource expansion at both underground and open pit targets through a property wide exploration program. The Plutonic Gold Mine has a history of Mineral Reserve replacement and the Company believes that it can maintain this through targeted drilling programs on areas with good exploration potential.
Exploration will be focused on converting Mineral Resources to Mineral Reserves in areas proximal to the current underground working areas of the Plutonic Gold Mine, targeting projections of mineralized structures in the Caribbean and Baltic Extension areas, testing for a high-grade extension of the Timor historical production area that is believed to be truncated by an easterly trending off-setting fault zone and Bryah Basin infill and extensional drilling to test historically identified trends and other regional work. Any additional exploration work will be dependent on results.
In the medium to long term, the Company intends to transition from being a single asset junior gold producer to an intermediate gold producer through expansions at the Plutonic Gold Mine, further exploration and development at the Plutonic Gold Operations and if appropriate, the acquisition of precious metal properties in established mining areas including Australia and Canada.
- Increase mine life beyond 5 years
- Re-establish the Plutonic Gold Mine as an operation producing at least 100,000 ozs of gold annually
- Focus on quality high-grade ounces
- Optimize recoveries
- Increase incremental production from underground and open pit sources
- Resource and reserve additions
- Leverage excess mill capacity
Medium to Long Term
- Increase production at the Plutonic Gold Mine beyond 100,000 ozs of gold annually
- Transition from being a single asset junior gold producer to an intermediate gold producer
- Expansion at the Plutonic Gold Mine
- Further exploration and development at the Plutonic Gold Operations
- Acquisition of precious metals properties in established low risk jurisdictions including Australia and Canada
Transition from single asset junior gold producer to an intermediate gold producer