DOMINION MINING LIMITED
Record Production from Challenger
DOM - Quarterly Activities Report - Mr Jonathan Shellabear, MD and CEO
Tue, 29 Jul 2008 12:00PM
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Mr Jonathan Shellabear
Tue, 29 Jul 2008
12:00PM Australia/NSW
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DOMINION MINING LIMITED (DOM)
ASX code: DOM
Website: http://www.dml.com.au/
Industry: Materials
Principal Activities:
Mineral exploration, project evaluation, metuallurgical testing & technology development within the mining industry.
Address:
15 Outram St
WEST PERTH
WA
Phone: (08) 9426 6400
Fax: (08) 9481 1378
Executives & Directors
Mr Peter C Joseph , Chairman, Non Exec. Director
Mr Jonathan Shellabear , Managing Director
Mr Ross A Coyle , Executive Director, CFO
Mr Peter Alexander , Non Exec. Director
Mr John Gaskell , Independent Director
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Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
DOMINION MINING LIMITED (DOM) Events
Australia/NSW
DOMINION MINING LIMITED (DOM)
| Quarterly Activities Report | Tue, 28 Oct 2008 |
| Notice of Annual General Meeting/Proxy Form | Wed, 22 Oct 2008 |
| Annual Report to shareholders | Wed, 22 Oct 2008 |
| Full Year Statutory Accounts | Tue, 30 Sep 2008 |
| Change of Director`s Interest Notice | Fri, 26 Sep 2008 |
| Ceasing to be a substantial holder | Fri, 19 Sep 2008 |
| Appendix 3B | Mon, 15 Sep 2008 |
| Becoming a substantial holder | Thu, 11 Sep 2008 |
| Preliminary Final Report | Thu, 28 Aug 2008 |
| Response to ASX Request: Resource/Reserve Statement | Thu, 28 Aug 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH JONATHAN SHELLABEAR, MANAGING DIRECTOR OF DOMINION MINING LIMITED (DOM)
“Record Production from Challenger”
http://www.brr.com.au/event/48729
TUESDAY, JULY 29 2008, 12:00 PM.
BRR Today on Boardroom Radio we’re joined by Mr. Jonathan Shellabear, the managing director of Dominion Mining. Jonathan, glad to have you back on
10 Boardroom Radio.
DOM Thanks, Joel.
BRR Jonathan, we’re here of course today to have a chat about your quarterly. Can we start by looking at production from Challenger, some record levels,
15 and one of your best quarters today. What sort of output did you reach and are you managing to cap a lid on cost?
DOM Well, production for the….during the quarter was 29,282 ounces and a cash cost of 370 an ounce, which was a good quarter especially in the month of June, which was a little bit over 12,000 ounces at 321 an ounce. For the 2008
20 financial year, production was low at 109,000 ounces at a cash cost of 367 an ounce. Basically a good quarter. Certainly cost pressures in the industry is still evident and pretty much across the board.
BRR A lot of that’s cost of diesel I think you mentioned in the quarterly?
25 DOM Yeah. Our diesel cost is around about 20% of our total cost now, but cost is still evident both in labour and consumers and also energy, and we certainly don’t see them abating in the short term. It is an issue, but we’ve taken those
cost pressures into account in our business plan, including the cost of diesel.
30 BRR Now, the announcement also refers to a planned increase in production levels from Challenger, how are you planning to up the output?
DOM Well, we’re currently in the process of completing an expansion study on Challenger, and we expect to have some results at the end of this calendar year. The bringing forward of stoping from the M2 orebody is really to
35 facilitate planning for that expansion, and the reason for that is we need to get a better understanding of mining the M2 so we can mine it as efficiently as we can in order to extract the maximum value from the project. So we originally plan to stop stoping the M2 from July next year, but we’ve obviously brought that forward and that will now contribute about 50% of our mill feed in the first
40 half of this financial year.
BRR Now, the Challenger deeps drilling program has continued to yield some impressive results, what scope is there for increases to the reserves at Challenger?
45 DOM Well, as you know, Joel, we’ve continued deep drilling program at Challenger to delineate additional reserves. The Challenger orebody remains open at deep, and we will continue that program for as long as we possibly can. In all
45 reality, that’s very much dependent on retaining the rig that we have on site or getting another rig but that will continue. We intend to release an updated reserve statement shortly, and that reserve statement will incorporate all the recent results from the Challenger deeps.
BRR Jonathan, looking closer to home at some of your WA projects, could you
5 update some of our listeners on how the exploration work has bee
progressing on that front?
DOM Well, during the quarter, we focused on Cundeelee. There was work that continued at Cundeelee during the quarter with our systematic geochem program. A number of anomalies have been identified there which we’ll drill
10 later in the year. At Wongan Hills, we completed a diamond program there. The majority of those results are still pending, and we’ll be doing some more work on this project. There is a reasonable amount of copper in the system there, so that one’s a little bit tantalizing. But it’s certainly…we need to do more work there. And at Kukerin, we’re in the process of following up on the
15 result we achieved from reconnaissance program at the bottleneck prospect, and that result was announced before the quarterly and in the quarterly and that was 21 meters at 3.5. So that looks pretty interesting and more work will be required on that.
20 BRR Finally, on the corporate side of things, how are you placed cashwise to keep funding operations?
DOM Well, cash on the balance sheet at the present moment in time or at the end of June was 55.6 million. That’s cash and bullion. We will fund any expansion from our existing cash reserve, and we will continue to look at opportunities to
25 enhance shareholder return. So we’re very well placed on that front.
BRR Jonathan, thanks for those comments and thanks for your time today.
DOM Thanks, Joel.
30 BRR And if you have any further questions about this broadcast, please feel free to send through an e-mail, the address is brr@brr.com.au, or you can use the Contact Us button on the home page. Thanks for listening.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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