Strong Organic Profile
In 2006, La Mancha inherited two producing mines, two advanced projects and a portfolio of over 30 properties in Africa, Australia and Argentina. At the time of the reverse takeover by AREVA, we were a small exploration company with no production history.
Four years later, we are operating four gold mines, two each in Africa and Australia, and our gold production has climbed 125%.
Four years ago, we reinstated exploration as a driver for future growth. As of the end of 2010, our Measured and Indicated resource base stood at 1.94 million ounces of gold.
With our strengthened cash generating ability, our highly prospective land holdings and a strong operations team, La Mancha has all the right ingredients to move up to the next level.
In production
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51%-owned and operated by La Mancha, this Western Australian underground gold mine is a strong producer with additional potential at depth.
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This 100% LA MANCHA-owned gold mine 2 km from the Frog's Leg mine in Western Australia was put into production in early 2010.
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In operation since 1992, the Hassaï mine is the cornerstone of La Mancha's operations in Sudan, and represents many years of productive partnership with that country and its people.
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The Ity gold mine has been a steady producer since 1991, and has the capacity to deliver a solid performance for many years to come.
In exploration
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Adjacent to the Frog's leg property, the Park Dam project is co-owned with Barrick gold. This property fits our goal to develop a mining complex around the Frog's leg mine.
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30 km northwest of the Frog's Leg mine, Kintore is a good prospect for shallow, easily-accessible resources, with all the favourable geological features and, as of 2011, an initial gold resource of about 35,000 indicated ounces and 40,000 inferred ounces.
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With inferred resources of 50 million tonnes to date, La Mancha is in the process of proving up the huge VMS potential lying beneath the Hassai mine pits, which is expected to drive our mid-term growth.
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This property lies in the southwestern extension of the highly-prospective Arabian-Nubian Shield, fast gaining recognition as one of the world's most promising exploration and mining districts.
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Bondoukou sits just 20 km from the Ghanaian border, in the same greenbelt system as Ghana's largest gold mines, including Newmont's Ahafo mine and Gold Fields' Tarkwa mine.
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This prospect is located in the centre of Côte d'Ivoire, in the heart of Birimian Shield. It hosts shallow inferred resources that are quite well delineated.
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This prospect in the northern part of Côte d'Ivoire stretches along a belt that hosts a number of known deposits, like Rangold's Tongon project.
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La Mancha is presently conducting exploration under an option on the Ortiguita copper-gold project, where we expect to earn our 75% interest by July 2011.