The Burnstone Property is located in the South Rand area of the Witwatersrand Goldfields in Mpumalanga Province, approximately 50 miles (80 kilometers) southeast of Johannesburg, South Africa.
Burnstone Location Map
Investment Highlights:
- 100% owned and operated property
- Initiated commercial production February 2011
- Production ramp up over two years to 254,000 Au oz/year at a cash cost of US$579/oz over 25 year mine life
- 6.4 M Au oz Reserves (Proven & Probable), 12.1 M Au oz Resources (Measured & Indicated)
- Full conversion to new order mineral rights and BEE requirements, mining right granted Nov 2008
Burnstone Mine Overview:
| Location |
Witwatersrand Basin, South Africa |
| Commodity |
Gold |
| Ownership |
100% |
| Property Area |
134 sq miles / 347 sq km / 34,654 ha / 85,633 acres |
| Infrastructure |
Close to a major paved highway; power from national grid (Eskom), two rail lines & water pipeline |
| Mine Neighbours |
Harmony |
Burnstone Project Key Information (Areas 1 & 2):
| Reserves (Proven & Probable) |
6.4M Au oz @ 4g/t Au cut-off |
| Production Rate |
5,000-6,000 Ore tons per day |
| Recovery |
95% Au |
| Production (Targeted Annual Average) |
254,000 Au oz |
| Life of Mine |
25 years |
| Cash Cost |
US$579/ Au oz (ZAR 7 exchange rate) LoM |
| |
US$506/ Au oz (ZAR 8 exchange rate) LoM |
