Lachlan Star Ltd T.LSA

Primary Symbol: LSLCF

Metals & Mining Industrial Metals & Minerals

Lachlan Star Limited is an Australia-based copper and gold exploration company. The Company is focused on the discovery of gold and copper resources across a portfolio of early-stage high-potential exploration projects located in central New South Wales. Its projects include North Cobar, Junee, Bauloora North, Koojan, Killaloe, And Princhester. It holds a 100% interest in the North cobar project, with a focus on gold-copper and lead-zinc-rich deposits. The North Junee Project is located within the Gold-Copper Heartland of Australia, a region that contains over 110 Moz gold and 19 metric tons (Mt) of copper. The South Junee project, situated approximately 60 kilometers southeast of the Junee project, lies within the Lachlan Fold Belt. The bauloora north project is situated east of the township of Temora in central New South Wales. The Killaloe Project, located in southeast Western Australia over 600km east of Perth and 20-30km northeast of the historic gold mining town of Norseman.

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Lachlan Star Ltd

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Post by TheRock07on Jul 31, 2013 8:06am

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Post# 21640795

News..LSA Returns to Profitability in Q2.....

Lachlan CMD has $2.1-million (U.S.) Q2 operating profit

2013-07-31 07:39 ET - News Release

Ms. Sarah Beardmore reports

LACHLAN STAR FILES QUARTERLY REPORT FOR THE PERIOD ENDING 30 JUNE 2013

Lachlan Star Ltd. is providing the following quarterly report for the period ending July 31, 2013.

Highlights:

CMD gold mine (100 per cent, Chile)

506 % increase in Gross Operating Profit for the CMD Gold Mine to US$2.15 million for the Quarter;
Gold production increased 48% quarter on quarter to 16,160 ounces of gold in the June quarter, a record under the Company's ownership;
Gold stacked increased 16% quarter on quarter to 20,788 ounces in the June quarter, a record under the Company's ownership;
Stacked grade increased by 6% quarter on quarter to 0.52 g/t Au;
Mined ore grade increased by 19% quarter on quarter to 0.58 g/t Au;
Waste to ore ratio reduced by 8% quarter on quarter to 2.49:1, the lowest under the Company's ownership
Average stacking rate in the month of June increased to over 15,671 tpd with 470,141 tonnes of ore stacked, a record under the Company's ownership
Owner mining fleet unit rates reduced to US$1.87 per tonne mined in the month of June, a record low since commencement of owner mining
Total costs reduced to $14.93 per tonne of ore stacked for the month of June, a record low under the Company's ownership;
Market capitalisation of the Company in gold now at 17,000 ounces, with 2.06 million ounces of Indicated mineral resources and a further 1.35 million ounces of Inferred mineral resources. 
CORPORATE
A$3,919,114 private placement completed at a price of C$0.57 a share and 7,265,000 shares issued
Executive Chairman and Chief Financial Officer agree to reduce fees by 30% from 1 August while gold price is below US$1,500 per ounce