KEY POINTS:
MELBOURNE - Beaconsfield Gold NL said today that progress in reopening its Tasmanian mine has been frustratingly and disappointingly slow, although progress had been made.
Chairman Denis Clarke said at a general meeting today that the company aimed to lodge its ore drive case for safety with Workplace Standards Tasmania later this month.
"Progress in reopening the mine has been frustratingly and disappointingly slow, although progress has been made," Mr Clarke said.
"The final step in the reopening process revolves around the production case for safety and, in this regard, an important decision has recently been taken by the joint venture manager in conjunction with the team of specialist external consultants."
He confirmed the company had made an offer to Macquarie Bank for the debt of the mine's joint venture partner, Allstate Explorations NL.
"Again, due to the confidential nature of the sale process instituted by Macquarie Bank, I am unable to expand further on any aspect of the process or the nature of the Beaconsfield Gold offer."
He also said talks had continued on the restructure of the mine's ownership.
"Despite considerable progress, no resolution to the ownership issue has yet been reached and discussions are continuing into the New Year."
But the company remained optimistic.
"As we move into 2007, the board and management are optimistic concerning eventual safe recommencement of operations at the Beaconsfield Mine, a resolution to the mine ownership issue and the potential for further success in exploration," Mr Clarke said.
The Beaconsfield Mine was the scene of a rockfall on Anzac Day last year that killed miner Larry Knight and trapped two others.
The company is meeting today to secure shareholder approval to extend its authority to place shares and raise cash should an ownership restructure take place.
- AAP
