Last A$0.07 AUD
Change Today -0.003 / -4.17%
Volume 454.3K
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As of 11:34 PM 09/22/14 All times are local (Market data is delayed by at least 15 minutes).

cleveland mining co ltd (CDG) Snapshot

Open
A$0.07
Previous Close
A$0.07
Day High
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Day Low
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52 Week High
09/26/13 - A$0.14
52 Week Low
08/14/14 - A$0.07
Market Cap
16.7M
Average Volume 10 Days
147.1K
EPS TTM
A$-0.06
Shares Outstanding
241.3M
EX-Date
--
P/E TM
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Dividend
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Dividend Yield
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Current Stock Chart for CLEVELAND MINING CO LTD (CDG)

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cleveland mining co ltd (CDG) Details

Cleveland Mining Company Limited is engaged in the exploration and development of mineral properties in Brazil and Chile. It primarily explores for gold, iron-ore, and copper. The company holds interests in various properties located in the Crixás Hub in Goiás state in central Brazil; and an option to acquire 80% of three iron-ore projects located in salavador da Bahia state, Brazil. It has a strategic alliance with BC Iron Ltd to acquire and develop iron ore projects in Brazil. Cleveland Mining Company Limited is headquartered in Subiaco, Australia.

cleveland mining co ltd (CDG) Top Compensated Officers

Managing Director and Director
Total Annual Compensation: A$180.2K
Brazilian Commercial Manager
Total Annual Compensation: A$223.5K
Geology Manager
Total Annual Compensation: A$205.0K
Compensation as of Fiscal Year 2013.

cleveland mining co ltd (CDG) Key Developments

Cleveland Mining Company Limited Starts Resource Drilling at O Capitao Gold Project

Cleveland Mining Company Ltd. has mobilized a drill rig to commence an infill resource definition drilling program at the Dona Maria prospect, one of the two areas of mineralization within the Cleveland-Premier Joint Venture's O Capitao Project, located 9km from the operating Premier Goldmine in Goias State, Brazil. The holes will be drilled over an area of 100m by 70m area within the broader 4 sq km Capitao Project area. The drilling is expected to take around six weeks to complete, and is aimed at defining an initial JORC-compliant Mineral Resource sufficient to underpin the first 12 months of mining from Dona Maria. In addition, a small 'trial pit' is being planned for the nearby 'Lavra' prospect. This pit will be designed based on non-JORC compliant mineralization due to the existence of an undefined level of historic Garimpeiro (artisanal) underground workings, which make it impractical to define a resource at this stage. It is envisaged that a small open-pit operation will clearly define the level of underground voids and allow resource definition work to begin. The company is aiming to commence mining at O Capitao from Lavra first, followed by Dona Maria. Ore will be transported along existing roads to the Premier Goldmine for processing. Mining is targeted to begin as soon as permits are granted. Theoretically, the licence can be granted in three months, although the company's experience is that this timeframe is unreliable. Additional high-grade results obtained from mining within the Premier resource provides support to achieve the company's medium-term production targets until mining begins at O Capitao.

Cleveland Mining Company Limited Provides Update on Minas Novas Project

Cleveland Mining Company Limited announced that the first six holes drilled into the CDG/BC Iron Ltd. Alliance Minas Novas iron ore project in Minas Gerais State, Brazil have all intersected down-hole lengths of between 42 metres (m) and 135m of itabirite style iron mineralisation within 5m from the surface. Mineralisation in three of the holes has not been closed at depth. The project area is separate to the Bahia projects from which first pass drilling and metallurgical results were recently announced. The 6 holes are significant because they were drilled over approximately 14km of strike and represent the first holes drilled into a series of very large magnetic anomalies, in an area that has historically not been recognised as hosting iron ore. The holes correlate well with nearby outcropping itabirite and massive hematite. The potential strike of the mineralisation, defined by the magnetic survey, of between 60 and 100km, could provide sufficient potential to create a new jurisdiction for iron ore should metallurgical properties of the material prove favourable.

Cleveland Mining Company Provides Update on Assay and Metallurgical Results for Caetite Projects, Bahia

Cleveland Mining Company announced the assay and metallurgical results from the first pass drilling program, recently finished, covering the initial targets from the Bahia suite of projects for the Cleveland/BC Iron Alliance. Metallurgical test-work has shown that the Caetite projects in particular, are able to produce a high grade concentrate ranging 68 - 71% Fe at a coarse grind size. CAETITE 2: Caetite 2 remains the Alliance's lead project in Bahia due to the access to infrastructure and tonnage potential. To date a higher level of focus and greater resources have been applied to this project compared to the other tenements in the Bahia project suite. Assay results were received for 2 fences of RC drill holes set 3.5 km apart, within a structure that has been defined by geophysics and surface mapping up to 6.5 km long. The initial campaign of 7 holes for 672 m of drilling defined a magnetite amphibolite horizon with a true thickness of approximately 30 m, which was confirmed to remain open at depth to 140 m by a hole drilled down dip. Down-hole assay results within the magnetite amphibolite have remained consistent with previous surface sampling. A total of 73 m of the 140 m amphibolite intersection in the southern magnetite dominated end (hole CIPRC00002) reported above the 25% Fe cut off grade, for an average grade of 26.87% Fe within the target unit. Hole CIPRC00005 situated within the hematite dominated northern end of the anomaly, recorded 54 m at the 37.83 Fe%. Bureau Veritas in Perth, conducted 5 point Davis Tube tests on 2 composite samples which were selected to represent the mean down-hole grades. The test-work showed that with a coarse grind size of around 107 microns and simple magnetic separation, a concentrate could be produced with an iron grade of between 68% and 71%.

 

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