Laneway Resources (ASX:LNY) (“Laneway” or the “Company”) is an Australian mining company with assets in gold and coal. Laneway has lodged a Mining Lease Application over its 100% owned near surface high grade Agate Creek Gold Project (“Agate Creek”) in Queensland. Agate Creek is a low strip ratio open cut mining operation that will utilise the nearby Georgetown processing plant to deliver gold production at a significantly reduce capital cost and will have the added benefit of reducing the time to first gold production. Agate Creek has an existing JORC Resource of >400,000oz of contained gold. The Company is planning to upgrade the Resource following on from the recently completed drilling programs.
In New Zealand the Company owns 100% of the Southern Coromandel Gold Project. this project encompasses a large highly prospective land holding adjacent to Newmont’s Martha Mine (Waihi) and Heritage Gold’s Talisman Project. Laneway is actively pursuing a Joint Venture partner to develop the highly prospective project.
The Company also holds the Ashford (LNY 50%, NHC 50%) coking coal project in NSW where there is a resource of 18Mt of premium hard coking coal.
Our objective is to become a gold producer providing exceptional investment returns to shareholders.
We aim to achieve this by:-
· Maximising the value of our existing assets through early development and later expansion.
· Having the best people available to achieve stretching but attainable targets by giving them the resources to get the job done
· Acquiring advanced pre-production assets with sound fundamentals and which match our skill base, from which we can create value by advancement through to development and production.
· Maintaining a focus on shareholder value and leverage