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Presentation to Denver Gold Forum

23 September 2003

Managing Director Mr Adams made the following points at the Denver Gold Forum:

  • After a 6-month hiatus, exploration drilling of the Gympie Goldfield re-commenced in August and is aimed at systematically testing the estimated plus-six million ounce potential of the Goldfield.

  • • Gympie Gold's tenements now cover a recently recognised, potential 11 mile extension to the Goldfield's strike length. The Gympie Goldfield has historically yielded 4 million ounces from a strike length of 6 miles.

    • Gympie Gold's 25%-owned regional explorer D'Aguilar Gold Limited recently completed its IPO on the Australian Stock Exchange, with Gympie shareholders oversubscribing to their priority share-allocation.

    • Gympie Gold® Jewellery has been launched in the Carribean as part of the roll-out with marketing partner Kabana Inc. Gympie is the first gold producer with consumer products made from the Company's own gold and gemstone.

    • The company's cash flow is leveraged to the strong recovery of the Southland Colliery with coal sales receipts increasing 150% over the past six months and are expected to increase by a further 45% over the coming six months.

    • Coal production from panel SL3 has been completed with run-of-mine output since 1 July 2003 of 520,000 tonnnes. The longwall unit and associated equipment is being upgraded prior to production from panel SL4 starting at the end of October.

    • Coal Reserves at Southland total 41 million tonnes and Gold Reserves at Gympie Eldorado total 161,000 ounces. Coal Resources total 142 million tonnes and Gold Resources at Gympie Eldorado total 686,000 ounces.

    • Gympie Gold is perhaps the only company highly leveraged to both gold and metallurgical coal, two of today's strongest sectors. The prices for both of these commodities are firm and set to strengthen further. In that sense, the Company is leveraged to both US$ weakness and Chinese economic growth.

    Listen to the recorded webcast of the speech to the Denver Gold Forum.

    Download the full announcement, which includes Resource and Reserve Statements.



  • Download the full announcement (168kb) [ pdf ]
  • Download the presentation (3.9MB) [ pdf ]


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    Last Modified: Wednesday, 24-Sep-2003 12:44:53 EST