Beaconsfield Reopens But Ownership Under A Cloud
The Age
Friday December 1, 2006
MINING has resumed at the Beaconsfield goldmine in Tasmania where an Anzac Day rock fall killed miner Larry Knight and trapped Todd Russell and Brant Webb for 14 days. But questions about future ownership of the high-grade mine remain to be resolved.
The resumption is restricted to drilling in the access decline at the mine, with separate safety approvals required for the two additional stages (development drives out to ore positions and actual mining of the ore) that could see commercial production levels reached by the middle of next year.The potential for the return of the 100,000 ounce-a-year mine to production comes as Melbourne-based Beaconsfield Gold continues its push to become sole owner of the mine, now 51.51 per cent owned and operated by Allstate Explorations NL and 48.49 per cent by Beaconsfield Gold.Allstate, in administration for five years, and Beaconsfield held their annual meetings yesterday. Allstate chairman Rodney Elvish told the Sydney meeting the lack of gold production since the Anzac Day rock fall had made the "goal of bringing the company out of the deed administration more difficult"."The company has limited and declining financial resources," he said. In contrast, Beaconsfield's Melbourne meeting was told the company - it is also a 26 per cent Allstate shareholder - was ready and willing to move to full ownership.Chairman Denis Clarke said the "opportunity for the company to consolidate ownership of the Beaconsfield mine had never been greater or never more realisable".
© 2006 The Age
