Laneway Resources (ASX:LNY) is an emerging Australian resource development and mining company with projects primarily targeting gold in Queensland and New Zealand, plus a coking coal resource project in Northern New South Wales. In 2019 Laneway progressed its Agate Creek gold project in Queensland into production from the mining and toll treatment of ≈70,000 tonnes of ore from the Sherwood prospect high grade surface material.
Stage 1 of the mining at Agate Creek utilised a third party CIL processing plant, delivering cash flow at minimal capital cost and resulted in only 10 weeks from ML grant to first gold production. This successful development and the profitable mining operation has provided a robust financial footing for the company to continue the progression of its Agate Creek project and other assets and continue reviewing additional potential high growth projects. The Agate Creek long term plan is a low strip ratio open cut mining operation with on-site processing, this is being progressed with further exploration on the Sherwood prospects and also regionally.
In New Zealand Laneway owns 100% of the Epithermal Gold Project. This project encompasses a large highly prospective land holding adjacent to Oceana Gold’s Martha Mine (Waihi) and New Talisman Gold's Karangahake Project. Laneway is seeking expressions of interest in this project from potential farm in partners.
The Company also holds 100% of the Ashford Coking Coal project in NSW which contains an estimated JORC resource of 14.8Mt of metallurgical coking coal.