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By E. D. Fox

Introduction The financial statement of the hypothetical Gold Mining Company, which forms the background of this survey, was designed for the Institute with the express abject of having it assessed in respect to Profits by the several taxing bodies representing the Federal and Provincial Governments, which comprise the Dominion of Canada. On the completion of the figures, copies were sent to the several Ministers of Mines, accompanied by a request that they be submitted to their taxing authorities and assessed accordingly. The response, while it was not general, was very favourable, and at all times we were treated with the utmost courtesy and patience, and what has been set forth in the compilation bears the authentication of the various government officials who are immediately concerned with taxation. The data itself constitutes a fairly comprehensive digest of taxation as it directly applies to gold mining profits in Canada. The Hypothetical Balance-Sheet (See Exhibit A) In the balance-sheet schedules 1 and 2 (Exhibit A), income is divided between taxable and non-taxable classifications, and here it should be noted that the division contemplates only the assessment for Dominion income tax. The same applies to the factors of exchange and depletion. Therefore, in making comparisons, it is to be borne in mind that the set-up for assessment to the Provinces, that is, Manitoba and Alberta, will stand as if the gross non-operating income is taxable, with the reservations as shown in the notes below the schedules.

Jan 1, 1934

By John G. Payne

The Pebble deposit contains three contiguous zones. In the Pebble West zone, granodiorite stocks intrude gently warped volcanosedimentary rocks that had been intruded by diorite sills and two felsic intrusion breccias. In the Central zone, volcanosedimentary rocks are cut by diorite and granodiorite sills; the latter are genetically associated with the granodiorite stocks. In these zones, widespread potassic alteration consists of brown biotite and K-feldspar, with abundant quartz-carbonate-sulphide vein stockworks. Chalcopyrite/pyrite ratios range from 2/1 to 1/20. Diorite hosts the highest-grade mineralization, with much of it being disseminated. Patchy, later phyllic alteration is moderate and commonly depleted in copper. The Pebble East zone occupies a granodiorite stock and intruded host rocks below an eastwardly thickening wedge of barren Tertiary volcanic and sedimentary rocks up to 600 m thick. Brown biotite alteration and copper mineralization are strong, with chalcopyrite/pyrite ratios commonly over 1/1. The zone extends to a depth of at least 1200 m below surface; some drill holes bottomed in strong mineralization. Later, weak to moderate sericitic alteration removed some chalcopyrite and locally remobilized gold. The Pebble deposit has a Measured/Indicated resource of 3 billion tonnes grading 0.28% Cu, 0.32 g/t Au and 0.015% Mo (= 0.5% copper-equivalent) and an Inferred resource of 1.13 billion tonnes grading 0.30 g/t Au, 0.27% Cu and 0.015% Mo (0.55% copper-equivalent). The Pebble East zone has an Inferred resource of 2.13 billion tonnes grading 0.55% Cu, 0.34 g/t Au, and 0.037% Mo (0.97% copper-equivalent). The Pebble East zone is open to the east and to a lesser extent to the north, south, and to depth.

May 1, 2006

By C. B. Webber, W. A. Grell

"Sherritt Gordon's Ruttan Mine is a copper-zinc operation located approximately 600 miles north-west of Winnipeg. Open pit mining began in 1973 at 10,000 Tpd., with a change over to underground mining in 1981 producing 7,500 Tpd. Ore is crushed to -3/4"" followed by rod and ball mill grinding (two ball mills in series), differential copper-zinc flotation, and dewatering. The copper and zinc concentrates are trucked 75 miles to Lynn Lake, where they are shipped by rail to the HBM&S smelter at Flin Flon.This paper describes a method used to predict the effect of grind particle size on metallurgical performance, as well as details on the copper and zinc metallurgical performance due to fine grinding in actual plant operation.Initial statistical studies on historical data (including ore source, head gr3de, grind, etc.) indicated that copper and zinc recoveries increased with fineness of grind, in the range of 50 to 65% -200 mesh.In order to extrapolate beyond 65% -200 mesh, and to develop expected nonlinear relations between grind, Cu concentrate grade, and recovery, the assays of screen fractions of copper concentrate and tailing were used to determin8 the relation between net smelter return (a function of grade and recovery) and grinding cost. The optimum economic grind would be that grind at which the net smelter return less grinding cost reached a maximum."

Jan 1, 1982

By F. C. Grensing, W. R. Crib

Copper-15 Nickel-8 Tin alloy is a relatively modern material, having been discovered in the 1970’s. It has complexities with casting, hot working and interdependent solid state phase transformations. A key to the high reliability manufacture of wrought rods, bars, plates and tube is the casting technology, which limits segregation, promotes microstructural uniformity and enables hot working. The EquaCast® continuous casting process has enabled the production of a broadening variety of wrought forms with typical yield strengths ranging from 100 to 180 ksi (690 to 1241 MPa) depending on size, shape and temper. This paper reviews the characteristics of wrought Copper-15 Nickel-8 Tin products which have registration in AMS specifications (4596 and 4597) and MMPDS-04 (CN-1) for use in aircraft. The design limits, microstructures, fracture characteristics and tribological behavior will be examined. This alloy system is emerging as a material of choice for aircraft bearings, corrosion resistant oil and gas exploration components, machinery and demanding off-road equipment applications. ToughMet® 3 is an alternative or upgrade to conventional moderate and high strength aluminum bronze bearing alloys.

Jan 1, 2010

By Rodolfo Espinosa Gómez

"Industrias Peñoles, S.A. de C.V. – Mining Division, has initiated in the last ten years, six Mining Operations (Bismark, Tizapa, Ciénega, La Herradura, Rey de Plata, and Francisco I. Madero) and it has expanded several of their existing Operations (Sabinas, Fresnillo, Tizapa, Ciénega) one or more times.This work aims to share the experiences learned on this growing process. Some of these lessons are: 1) Project leaders must have a leadership that fosters good communication and team work; and this leadership style must come from top management. 2) A good communication must exist between the personnel from Engineering, Construction, and Operation. Also, this good communication must come from top management. 3) Starting the project with a solid Engineering Study. 4) Do not misunderstand cost with cost/benefit; always look at the cost/benefit. 5) Selecting good Contractors and good Suppliers. 6) Good training before the project commissioning is essential to reduce the learning curve period, this is even more important in areas where local people do not have any background in mining activities. 7) Recognizing that any project has a learning curve and it must be reflected on the production budget. 8) Avoid an over optimistic Mine preparation time schedule.BACKGROUNDIndustrias Peñoles S.A. de C.V.The mission of Industrias Peñoles, S.A. de C.V. (Peñoles) is to add value to non-renewable natural resources in a sustainable manner. Peñoles seeks to build long-term shareholder value; provide their customers with the highest quality products and services; maintain productive longterm relationship with their suppliers; develop and promote the capabilities of their personnel; foster mutually beneficial relationship with the communities in which it operates, and preserve the environment.Peñoles was established on 1887. It is a Mining Group with integrated Mining, Smelting and Refining operations of non-ferrous metals, and also produces inorganic chemistry materials. Peñoles is the main World producer of refined silver, metal bismuth, and sodium sulphate; Latin American leader in the production of refined gold, lead, and zinc.The Mining Group is made-up of nine mining operations producing concentrates with high gold, silver, lead, zinc, and copper contents. It produced in 2002, 365,900 ounces of gold; 52.7 million ounces of silver; 86,820 tonnes of lead; 266,000 tonnes of zinc, 11,840 tonnes of copper; with a total values of 3,780.6 million of Mexican pesos (~ $ 378.0 million U.S. Dollars)."

Jan 1, 2004

By P. D. R. Maltby

"1. INTRODUCTIONMy talk today will discuss a new development in the thickening of slurries and clarification of waste water - the Enviro-Clear thickener. Several industrial installations of the thickener have been made in North America in the following applications:1.,water clarification in sugar beet processing plants.2.,separation of pregnant liquors from solid wastes following acid leaching in uranium mills3.,clarification of waste water from coal treatment plants as described in a paper in the June 1975 transactions of the SME entitled ""Application and Utilization of the Enviro Clear Thickener in a U.S. Steel Coal Preparation Plant"" by A.A. Terchnik, D.T. King and J.S. Anderson.2. HISTORYThe application of the Enviro-Clear thickener can be traced back to the filing of U.S. Patent 3523889 in 1970 by the inventor F. Eis. The claims of this patent are shown in Slide 1.The new concept was developed for sugar beet processing by the Spreckels Division of Amstar Corporation, and several such thickeners have subsequently been installed in various sugar beet plants. The Enviro-Clear Co. or New York took over the world-wide manufacturing and marketing of the thickener. Experience in the sugar beet industry indicated that the Enviro-Clear thickener volume requirements could be reduced to as low as one tenth that of a conventional type thickener. Various coal samples were supplied by U.S. Steel Research Laboratories for testing. The tests indicated that feed rate loadings of 3 gpm/ft.2 could be obtained by the Enviro-Clear thickener. Such results led to several industrial applications in the coal industry. Subsequently other branches of the mineral processing industry have come to learn of the possibilities of using this thickener. Slide 2 shows a list of commercial Enviro-Clear installations at the end of 1975."

Jan 1, 1976

By Gianni Bartolacci, Patrice Nadeau, Szatvanyi. Gerard, Carl Duchesne, Claude Chrétien

"Combustion is used throughout the mineral processing industry to produce steam in boilers, to dry concentrates in rotary dryers, and to apply heat treatments in pyrometallurgical furnaces. Tight combustion control is very important in latter type of furnace since the combustion conditions directly affect final ore quality. However, achieving tight combustion control is not straightforward since most of the flames encountered in industry are turbulent non-premixed flames, they are affected by several unmeasured disturbances and are often produced by burning several types of fuel simultaneously, some of them coming from other parts of the plant. A novel method is proposed in this paper to improve process and product quality control as well as to optimize the combustion conditions based on digital flame color images. Multivariate Image Analysis and Regression is to used extract the flame color characteristics from images to predict the solids discharge temperature of an industrial rotary kiln. It is shown that this method yield extremely good 10 minutes ahead forecast of the temperature and should lead to a substantial reduction in product quality variability as well as in fuel consumption.INTRODUCTIONFuel-fired furnaces are often used in the mineral processing industry for various purposes, such as for the production of steam (utility boiler), in conjunction with rotary dryers to dry mineral concentrates or in pyrometallurgical processes for induration, roasting, and so forth. These furnaces are necessary in the supply chain from the mine to the metals, but their operating costs are constantly rising due to the fluctuations in fuel prices. Moreover, these processes are now targeted by the Kyoto Protocol since they are energy intensive and they produce significant amounts of CO2 and other pollutants such CO, NOx and SO2. To achieve both a reduction in operating costs (i.e. fuel consumption) and in pollutant emissions while maintaining or improving product quality, one needs to have a very good control of the combustion process."

Jan 1, 2005

By Casey Erickson

Goldstrike Property ??Located in Elko, NV USA?Carlin Trend ??Mining Since 1985 ??27 Million Ounces of Gold Mined ??Production of 400,000 tons/day ??1,600 Employees

May 1, 2011

The purpose of this paper is to present the methods used in ground water control and the considerations that affected the development of these techniques. Production at Knob Lake is currently proceeding at depths which may be as much as 200 feet below the original standing water table. In order to produce a more saleable product and to improve operating and maintenance conditions, it is necessary to depress the water table below the mining level. Considerable success has been achieved by drilling deep wells in strategic locations and installing vertical tur-bine pumps at depths of up to 400 feet. This method is especially suitable for operation under severe winter conditions and has reduced the detrimental effects by a far greater extent than other methods of water control, Spring runoff is handled in open sumps, but all other water from four mines, with flows exceeding 16,000 g.p.m., is pumped all year 'round from about thirty-five wells. T HE Knob Lake operation of the. Iron Ore Company of Canada is located on the Quebec-Labrador border, 320 miles north of Sept Iles,

Jan 1, 1965

The purpose of this paper is to present the methods used in ground water control and the considerations that affected the development of these techniques. Production at Knob Lake is currently proceeding at depths which may be as much as 200 feet below the original standing water table. In order to produce a more saleable product and to improve operating and maintenance conditions, it is necessary to depress the water table below the mining level. Considerable success has been achieved by drilling deep wells in strategic locations and installing vertical tur-bine pumps at depths of up to 400 feet. This method is especially suitable for operation under severe winter conditions and has reduced the detrimental effects by a far greater extent than other methods of water control, Spring runoff is handled in open sumps, but all other water from four mines, with flows exceeding 16,000 g.p.m., is pumped all year 'round from about thirty-five wells. THE Knob Lake operation of the. Iron Ore Company of Canada is located on the Quebec-Labrador border, 320 miles north of Sept-lies, a seaport

Jan 1, 1965

By R. Boom

Corus Umuiden, formerly Hoogovens, was the first steel plant in Europe after Voest to introduce oxygen steelmaking. In the decision-making process contacts with Dofasco in Canada about the production of formability steel grades were crucial. In developing oxygen (LD-) steelmaking high liquid steel output rates had to be combined with accurate process control. For ingot casting static models with input control and sampling during interrupted blowing were sufficient to deliver liquid steel within the required carbon, phosphorus, sulphur and temperature windows. Computers were introduced to perform the complicated charge calculations. Continuous casting called for strict control of composition and temperature at process end point and made predictable timing crucial. Dynamic control was introduced based upon sub lance measurements and waste gas analysis. Reliable disposable measurement sensors were developed in a concerted international action. Dissolved oxygen at blow end deteriorated the quality of low carbon aluminium killed steel grades. Blowing gases through the converter bottom improved process kinetics, resulting in lower carbon-oxygen products, yield increase and better phosphorus removal and generated new families of hybrid blowing processes. Introduction of secondary metallurgy facilities such as argon stirring stations, vacuum degassers and ladle furnaces relieved the demands for strict BOF end point control. Desulphurisation of hot metal became standard practice. In regions with scrap shortage hot metal desiliconisation followed by dephosphorisation, was introduced in the blast furnace cast house and hot metal transfer ladles. Later redundant converter vessels were used for pre-treatment, resulting in a two-stage process. The fundamentals of oxygen steelmaking are described and a vision on the future is presented.

Jan 1, 2004

By Michael Young, Peter Allum, Mingwei Gao

"Tough economical conditions and high grade but fine-grained ore processing have forced the mining industry to look for more efficient processes. Isa Mill Technology for ultra-fine and fine grinding is one such process employed at several mining operations in Australia including Mount Isa Mines Limited in Australia. Mount Isa Mines is a business unit of MIM Holdings Limited. MIM is an Australian-based international mining and mineral processing company with around 8000 employees worldwide. Major products include copper, gold, zinc-lead-silver, coal and technology sales.The Isa Mill is a horizontal stirred mill with sizes up to 3 m3 chamber net volume and 1 120 kW installed motor. It was jointly invented by Mount Isa Mines of Australia and Netzsch Feinmahltecknik GmbH of Germany for ultra-fine and fine grinding duties in the minerals industry. Isa Mill operations started in 1994 at the Mount Isa Mines Leadzinc Concentrator and then at MIM’s McArthur River Mine in 1995. These Isa Mills have been used to liberate sphalerite and galena at Mount Isa and silica at McArthur River by grinding to less than 7 micron.This paper discusses the Isa Mill Technology and reports on the metallurgical performance of the Isa Mills at Mount Isa Mines, including work done over the last 9 years to improve mill design, process efficiency and maintenance, which has resulted in the current state-of-the-art Isa Mill Technology.INTRODUCTIONThe current leadzinc deposits at Mount Isa Mines (George Fisher, Hilton and Isa) have an average grade of 10.5% zinc, 7.2% lead and 165g/t silver. Fine grinding, in particular in the zinc retreatment circuit requiring a milled product P80 of 7 micron, is essential to treat the ores from the Mount Isa Mines deposits. Every one micron size reduction in the zinc retreatment circuit below a P80 of 10 micron improves the overall plant zinc recovery by 1%, resulting in an increase in revenue of about 1 million dollars per annum."

Jan 1, 2002

By Bern Klein, Randy Blaskovich, Reem Roufail

"Morphology is a tool that is rarely used for mineral breakage mechanism evaluation. Ground particles are typically assessed for their size distribution. They are also visually analyzed using image analysis. However, image analysis is not a comprehensive evaluation of the particle surface texture. It evaluates particle’s size parameters such as area, diameter, and perimeter amongst other features. On the other hand, morphology analysis takes the particle assessment to another level of detail. Morphology analysis evaluates particles’ roundness, elongation and angularity that would indicate the degree of roughness of the particle. According to Roufail and Klein (2009), rougher surfaces are generated due to breakage along grain boundaries – intergranular breakage. Mill operation, particularly mill speed, dictates the dynamics in the mill. Stirred mills are known to break the particles via abrasion under standard operation. However, if the dynamics of the grinding media in the mill are changed, the particles could be more exposed to impact and compression loading that would lead to a different mode of breakage.In this paper, the effect of material properties and mill operating conditions on particle morphology will be studied. Hard non-sulfide versus soft sulfide minerals are compared, namely quartz and galena, respectively. Extreme mill speeds are tested covering the range of 1000 to 2000 rpm for a 4-litre Netzsch (ISA) mill. In addition to particle size distribution, micro-analysis is executed in the form of morphological analysis using a tested manual roughness point counting technique.INTRODUCTIONGrinding in general and stirred milling in particular are processes that are used to break particles to liberate metal-bearing minerals for further separation downstream. The energy required to achieve the target particle size versus maximum possible liberation has been studied intensively and it is usually the breaking point for the grinding system chosen in a process flowsheet. Operating conditions are dictated by the energy consumption. Becker et al. (2001) related different forms of energy such as input, specific, volume/mass specific energies to stress intensities and final product fineness. Other research studies focused on energy input in a stirred mill (Zheng, Harris and Somasundaran, 1996)."

Jan 1, 2011

By C. J. A. Davie

"SUMMARY A practical application of nitric acid oxidation of sulphides, based on the principles of the Arseno process, has been developed for the Cinola ore. Development of the process has been based on testwork conducted by Bacon Donaldson of Vancouver and Hazen Research of Denver, and on conceptual engineering performed by Minproc Engineers of Denver.A comprehensive Stage II report for the project has been submitted to the B.C. permitting agencies, containing provisions for a zero discharge tailings impoundment system and prevention of acid mine drainage. Approval in principle is expected in early 1989.A feasibility study recently completed by Minproc Engineers and Davy McKee Corporation demonstrates that this project can be brought to production for a capital expenditure of C$120 million for a mill throughput of 6,000 tonnes/day and operated at a total direct operating cost of less than $20/tonne.INTRODUCTION The Cinola orebody was discovered in 1970. It is situated approximately in the centre of Graham Island, the largest of the Queen Charlotte Islands. It represents the mid to upper levels of a hydrothermal precious metals system, characterized by intense brecciation and silicification. Gold is associated with finely disseminated sulphides in a breccia matrix and in free form in numerous quartz veins.Ownership of the property has changed hands a number of times, and previous attempts to bring the property to production have failed. Two critical factors have frequently been blamed for difficulty in creating a successful project: namely, process and environment factors, hence the title of this paper.City Resources (Canada) Limited (""City"") acquired the property in 1986, and commenced an aggressive campaign to verify ore reserves, to carry out metallurgical research and to address environmental issues.PROJECT OVERVIEW When the Cinola orebody was discovered, the significance of hydrothermal mineraliza¬tion associated with crustal plate boundaries was not recognized, and for several years, the orebody was considered an uneconomic curiosity. If the type and location of orebody sought by many companies engaged in gold exploration were to be specified, it would probably be a description of the Cinola orebody - it is a large (greater than 1.5 million ounce), low grade (2.45 gm/tonne), refractory ore reserve associated with the Pacific rim crustal plate boundary. The industry appears to have recognized in the past few years that its future lies in the exploitation of such orebodies, and is prepared to come to grips with the technical problems associated with such ores. In this sense, the Cinola orebody might be considered to have come of age."

Jan 1, 1989

By Robert E. McIvor

The Functional Performance Equation for Ball Milling” was first presented in 1988. It now has been used successfully in more than a dozen mineral processing plants. This powerful, yet simple tool provides a new level of understanding of closed circuit grinding. It shows how grinding circuit efficiency is in reality comprised of two distinct efficiencies. It demonstrates how circuit production rate is related, collectively, to these two efficiencies, mill energy input, and the grindability of the ore. It links circuit performance to design and operating variables that can be manipulated, and creates an effective strategy for making plant improvements. This paper covers the derivation and industrial validation of this equation. As part of an engineering and management system that also incorporates suitable metrics and process control, other operators can now use this tool to make improvements and to manage the performance of their grinding operations with clarity and confidence.

Jan 1, 2005

By I. E. Wahn, E. A. Boutin

"The Manibridge Mill is unique in its treatment of relatively high grade nickel-copper ore because in the mill design are included one 10' diam. x 10' Maxwell cell, and three 12' diam. x 12' tank cells. These large cells are used as rougher-scavenger cells. Three 8' diam. x 8' tank cells as well are used for cleaning and recleaning of the tank cell concentrate.Flexibility of flow is the main criterion in the tank cell circuit. Targets from these cells are a high grade nickel-copper product with a minimum of talcose gangue.The operation of the tank cells has been encouraging and they have performed well with both low and high grade heads, yielding a high grade concentrate product.Manibridge Tank CellsDescription:The tank cells at Manibridge consist of one 10' x 10' Maxwell cell, three 12' x 12' tank cells, and three 8' x 8' tank cells. The four large cells are currently being used as rougher scavenger cells. The three small cells are used as cleaner cells.Both sets of tank cells consist of Denver steel tank and Super Agitator Mechanisms with steel beam super-structures. The agitator mechanism has a totally enclosed ball bearing spindle housing with a cold rolled steel shaft, and a stanclard standpipe with adjustable collar.The air rings for the tanks were fabricated by Nelson Machinery. Both large and small cells have injection rings with equally spaced air holes in the bottom centre line of the ring.Air is supplied to the tank cells by a Dresser Clark low pressure air blower.The following is a table of pertinent data on the tank cells:"

Jan 1, 1974

By K. D. Hester

"1.0 INTRODUCTIONThe uranium industry started in Canada with the reopening of the gravity concentrator at Eldorado's Port Radium mine in the North West Territories in 1942. In 1948, uranium exploration and processing was opened to the private sector, and the Federal government offered special pricing incentives to the industry. Eldorado explored the Lake Athabaska deposits in northern Saskatchewan, and in 1953 opened the Beaverlodge mine. Other mines in the area soon followed. In 1953 also, the deposits in the Blind River - Elliot Lake area and in the Bancroft area of Ontario were discovered. Mines and mills were quickly developed in these areas.Canadian uranium production peaked at 15,900 short tons of U3O8 in 1959. In that year, uranium exports at $300,000,000 exceeded those of all other minerals in value. On October 1, 1959, Canadian uranium operations employed 13,900 people.Up to 1956, it was a seller's market. By 1958, world production of uranium was far ahead of requirements. Accordingly, in November of 1959, the USAEC announced it would not renew it's options for continued delivery of uranium from Canadian mines. This led to the ""stretchout"" of existing uranium contracts, and many mines were shut down (see Table 1) .In the early 1970's, a commercial uranium market seemed to be developing. In Ontario, at Elliot Lake and Bancroft, mines reopened. But competition was coming from the Athabaska basin of Saskatchewan. Currently it is these high grade, open pit deposits of northern Saskatchewan which are in the forefront of Canadian uranium developments. Canadian developments since 1942 reflect the political and market forces, as well as metallurgical progress and changes in environmental standards. This paper attempts to show these process changes in broad perspective."

Jan 1, 1987

By D. G. Sinclair

In any discussion on the subject of mine-safety, it is well to honestly face the fact at the outset that mining is a hazardous occupation and that certain inherent dangers attach to the work, which, in spite of the greatest vigilance on the part of everyone concerned, will from time to time exact their toll of in jury or death from the underground worker. Great progress has been made of late years in narrowing down the range of these necessary risks, and, illustrative of what can be done along these lines by concerted effort, it is pleasing to read from time to time of large operating mines running for weeks, months, a year or more, without a single lost-time accident. To achieve any results in the work of accident prevention it is necessary, first, to have a definite goal, such as a no-accident period, be it a week, a month, or a year, to aim at; and, second, to set up definite standards to work by. The legal code of regulations should form the basis of all standards of work at every mine and should, for this reason, cover as far as possible all conceivable phases of operation. This represents the ideal, but in practice it is unattainable, largely because of the many variables that must be considered, due to the divergence in the scale of operations and to differing geological conditions at the different mines. Hence it becomes necessary for the operator who wishes to attain the maximum in the establishment of high standards of safe operation to so amplify the code as to meet the peculiar requirements of his operation.

Jan 1, 1930

By Peter White

Mine Planning Shaft Collar Shaft Sinking Raises Ramp Underground Water Storage

May 1, 2009

TABAKOTO / SEGALA ? Annual gold production approximately 100,000 oz ? Debt free ? Unhedged ? Combined surface reserves 949,000 oz ? Combined 9 year life Tabakoto open pit reserve 568,000 oz (3.4m tonnes @ 5.26 g/t Au) Segala open pit reserve 381,000 oz (3.98m tonnes @ 2.98 g/t Au)

May 1, 2006