AWARD OF NOTICE OF INTENT FOR MINING CONTRACT FOR THE MASBATE GOLD
PROJECT TO LEIGHTON CONTRACTORS
VANCOUVER, Sept. 21 /CNW/ - The Boards of CGA Mining Limited and
Filminera Resources Corporation are pleased to announce that they have issued
a Notice of Intent for the award of the mining contract to Leighton
Contractors ("Leighton"), one of Australia and Asia's pre-eminent and most
highly regarded contractors, for the Masbate Gold Project in the Philippines.
Leighton will provide the full mining fleet and associated equipment
(currently estimated to cost in the order of US$34m) and will provide contract
mining services for the project.
Leighton has been operating in Asia since 1975, and has a unique
combination of local knowledge and extensive international experience which
has made them the region's international contractor of choice.
The Asian operations are active in Hong Kong, Macau, China, Mongolia,
Taiwan, Korea, the Philippines, Guam, Thailand, Vietnam, Laos and Cambodia,
with annual revenue in that region over US$300 million and employing almost
2,500 people in Asia alone. Leighton is Australia's largest project
development and contracting group with annual revenues exceeding
US$10 billion, current work in progress of A$21 billion and has been involved
in the mining and resources market since the 1940's. Today, the Group is the
world's leading contractor miner, mining in excess of 100 million tonnes of
iron ore and 100 million tonnes of coal each year, across Australia and Asia.
They operate and maintain a fleet of owned and leased mining plant and
equipment, currently worth over US$1.5 billion.
We are pleased to welcome Leighton as the mining services provider for
the Masbate Gold Project. They will work under an alliance agreement as has
been successfully applied at a number of other mines. The alliance agreement
is designed to maintain unlimited flexibility with all aspects of mining,
total transparency of costs and provide the safest and lowest mining cost per
Detailed agreements are well advanced and are anticipated to be signed in
the next quarter.
For further information:
For further information: Australian Contact, President & CEO - Michael
Carrick, Tel: +610 8 9263 4000, Fax: +61 8 9263 4020, Email:
firstname.lastname@example.org; US Contact, Chairman - Mark Savage, Tel: (505)
344-2822, Fax: (505) 344-2922, Email: email@example.com