Tasmanian Gold mines are investing more dollars into expanding their exploration activities. The Henty Gold Mine in the north west of Tasmania has 3 exploration licenses covering more than 12 km.
Bendigo Mining Ltd. (BDG), which owns the Henty gold mine, is hoping to invest an extra AUD$8 million in the area next year for further exploration work in the hope of extending the working life of the mine. Rod Hanson the managing director said that the company had produced just under 80,000 ounces of gold in the last financial year.
Bendigo Mining is also hoping to extend the life of Kangaroo Flat. Mr Hanson announced the company’s increased production plans yesterday on the first day of the Paydirt 2010 Resources Victoria Conference in Melbourne.
Another gold mine owner BCD Resources which owns Beaconsfield gold mine has recently generated $1.6 million by releasing 15 million shares. It is hoping to use the money raised to develop access to the high grade western zone of the mine.
At 2pm AEST bendigo's shares were trading at 0.20 cents down from a high of 0.27 cents in April 2010.
The company also holds a 20% interest in West-African gold explorers GoldStone Resources, who have exploration assets in Ghana and Senegal.