CGA Mining Limited - Announcement to the Australian Securities Exchange and Toronto Stock Exchange



    
    /NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO US NEWS
    WIRE SERVICES/

                                28 APRIL 2009
                           MARCH QUARTERLY REPORT
    

    PERTH, Western Australia, April 28 /CNW/ -

    
                                 HIGHLIGHTS

    -   Construction of the processing plant was completed on schedule on
        20 February 2009.

    -   Construction of the 30 MW power plant has now been completed as well.

    -   The following items have now been completed, tested and commissioned:

        -  power to start and run the complete milling circuit;
        -  fuel farm for the receipt and storage of both HFO & diesel fuel;
        -  process water delivery and storage systems;
        -  complete crushing circuit (Primary Crusher, Stockpile, Transfer
           and Pebble Crusher);
        -  SAG mill;
        -  ball mill;
        -  CIL circuit;
        -  gold elution circuit and gold room; and
        -  tailings dam and disposal system ready to receive tailings.

    -   All mining equipment is on site, commissioned and operating.

    -   A complete selection of ore types by material (both high grade and
        low grade for oxide, transitional and fresh) are on the ROM pad.

    -   The CIL tanks have been filled and consumables added.

    -   High grade ore from the ROM pad has now been introduced to the
        circuit.

    -   Lycopodium Engineering Pty Ltd is on site with the final completion
        testing due to commence this week.

    -   Operating team in place.

    -   Confirmatory grade control drilling results at the Masbate Gold
        Project including:

        19m @ 24.59 g/t
        17m @ 8.05 g/t
        6m @ 19.59 g/t
        16m @ 6.36 g/t
        40m @ 2.58 g/t
        33m @ 2.99 g/t

    -   Significant drilling results at the Segilola Project including:

        6m @ 8.07 g/t including 3m @ 13.23 g/t
        11.85m @ 11.33 g/t including 1m at 17.1g/t and 2.1m @ 50.06 g/t
        6m @ 13.56 g/t including 3m @ 22.71 g/t
        8.1m @ 12.23 g/t including 3m @ 24.68 g/t
        6.5m @ 8.77 g/t including 0.55m @ 16.35 g/t and 2m @ 11.52
        g/t
        4.6m @ 34.61 g/t and 2.1m @ 71.51 g/t

    -   Cash position of US$24.7M at 31 March 2009.

    MASBATE PROJECT UPDATE
    ----------------------

    Commissioning Update
    

    On 20 February, under the terms of the EPC Contracts with Phil. Gold
Processing Refining Corp. ("PGPRC") and Filminera Resources Corporation
("FRC"), Leighton Contractors Asia Limited ("LCAL") was awarded Practical
Completion ("PC") of its scope of work in the process plant construction.
    LCAL personnel under the supervision of PGPRC appointed specialist
contractors Weir Services Australia Pty Ltd ("Weir") (mills) and BEC
Engineering Pty Ltd ("BEC") (mill electrics) continued with the installation
of the Semi Autogenous Grinding ("SAG") mill and the two ball mills. Final
alignment of the SAG and No. 1 ball mill was completed mid April. This enabled
the commissioning of the crushing and grinding circuit. Installation of the
No. 2 ball mill is 95% complete with the installation of the trunnion bearing
housing and liners remaining. Both final commissioning steps and operation of
the plant is not constrained by the No. 2 ball mill as both can operate in
isolation.
    Consumables were introduced to the circuit on 27 April and ROM pad high
grade ore has now been fed to the plant.
    Final receipt and installation of the discharge spigots at the end of the
tailings delivery line will complete the LCAL work in this area. These
activities are not affecting the commissioning of the process plant as
provision is made for direct end discharge into the Tailings Storage Facility
("TSF").
    Work on the plant site drainage and surrounding roads is 95% complete.
    At the time of the award of PC, an extensive 'punch list' of items
requiring attention was compiled. LCAL has continued to work on this
remediation work and are 98% complete. Under the terms of the EPC contract,
LCAL is obliged to provide labour to assist with commissioning and performance
testing of the processing facility under the direction of Lycopodium
Engineering Pty Ltd ("Lycopodium"). Lycopodium engineers are on site and
scheduled to commence performance testing shortly.

    To view the Masbate Process and Power Plant as at 21 April 2009, please
visit: http://files.newswire.ca/578/Masbateproject.doc

    Mill Refurbishment & Installation

    Weir completed the installation of the SAG mill with specialist
assistance from BEC, German Hydraulics And Plant Service, Inc and Outotech
Engineering Pty Ltd. The mill was initially started on 10 April then was shut
down for minor adjustments. Low grade material was supplied to the mill on 17
April.
    The No. 1 ball mill was also started on 10 April, shut down for minor
remedial work and initially commissioned with low grade material on 17 April.
Delivery of the No. 2 ball mill trunnion bearing liner is imminent, and we
expect to commission this unit prior to the end of April as well.

    CIL Circuit

    Lycopodium was commissioned by LCAL to carry out wet commissioning of the
complete leach and gold recovery circuit. Lycopodium completed this work by
the end of the March quarter and subsequently switched to an ore commissioning
role under an arrangement with PGPRC. The crushing, milling and leach feed
areas commenced operations on 17 April and achieved a throughput rate of 450
tonne per hour (including recirculating load) prior to having shut down due to
a failure of the mill discharge pump (new Warman unit supplied ex Australia)
on 18 April. Rectification of the pump failure was completed four days later
with the plant now operating again, with consumables and high grade ore from
the ROM pad also introduced. The first production pour anticipated in the
second week of May.

    Power Station

    LCAL was awarded PC under the Power EPC Contract on 3 April. The contract
involved the installation of 5 engines and generators plus associated
ancillary equipment and storage facilities capable of supplying 30 Mega Watt
("MW") of power to the entire project. The design of the facility has been
completed by Poyry Energy Inc. ("Poyry") a specialist firm of electrical
engineers and commissioning of the facility is being carried out by Wartsila
Philippines Inc ("Wartsila") a subsidiary of the Finnish parent company
Wartsila Finland Oy, the manufactures of the five units. Pre-inspection
testing carried out by Wartsila resulted in a favourable report on all five
units.
    PGPRC instructed Warstila to concentrate on commissioning the three
larger units (18 MW) to enable sufficient power to commission the process
plant. On 17 April the initial three units were commissioned and operated
effectively. Subsequently one of the units was shut down for work on the
cooling system. The fourth and fifth units are planned to be commissioned
within a few days.
    PGPRC has finalised an Operating and Maintenance Agreement ("O&M") with
Wartsila Philippines for the management and operation of the plant. To view
inside the Masbate Power Plant, please visit:
http://files.newswire.ca/578/Masbateproject.doc

    
                             Masbate Power Plant
    

    Fuel Farm

    The refurbishment of the delivery and storage facility to accommodate
Heavy Fuel Oil ("HFO") and diesel has been completed. Improvements to the
receivable and delivery systems will take place during the operational phase
when actual requirements of each product become clearer.

    Infrastructure

    All planned infrastructure i.e. accommodation, general office, assay
laboratory, water supply, security entrance, clinic etc are complete and being
used.

    Mining and Geology

    Total mining production for the period was 644,039 bank cubic meters
("BCM"). Pioneering work was undertaken, with access being established to the
first four starter pits. The remainder of the period saw the arrival of the
balance of the mining fleet including drills and explosives. Mining for the
period concentrated on the ramping up of production rates. By the end of the
period, the starter pits were established and daily movements were on target.
    A total of 247,882 t of high grade ore was delivered to the run of mine
("ROM") at an average grade of 1.44 g/t. Low grade ore mined was 244,331 t @
0.64 g/t.
    Blast hole drilling progressed well, with no issues. An emulsion plant
has been included in the Orica contract and is forecast to be running by July.
    Relocating farmers and other residents within the dump foot prints has
now been completed. The ROM pad is currently at capacity.
    Recruitment of the mine technical staff is progressing well with key
personnel in place to ensure continuity of production.
    Mining areas for the period included HMB West, HMB East and Libra East.
Some pioneering work also occurred at Binstar, and the base of HMB East.
    The majority of the infill drilling in HMB West and Libra West has been
returned, geological interpretations are currently being updated.

    To view a map of the Ore Stockpiles, please visit:
http://files.newswire.ca/578/Masbateproject.doc

    The map above shows the locations of the current operating stockpiles at
the Masbate Project, at the end of March. All mining and stockpiling records
were compared to the survey pick-up volume and the table below summarises the
current status of the available ore and low-grade stocks. With these initial
stocks and the advanced state of the mining program, the mine will be able to
maintain ore for the mill.

    To view Table 1, please click on:
http://files.newswire.ca/578/Masbateproject.doc

    Grade Control Drilling

    318 holes were drilled during the March quarter posting a total meterage
of 14,002 meters. Drilling was done in HMB East, Main Vein West, HMB West,
Libra Main, Libra West, Main Vein West and Montana. (See Table 2 below)
    Initial reconciliation between the resource block model and the grade
control block model shows a positive correlation in tonnes and grade, giving a
2% increase in contained gold for mill feed ore.

    Development Works

    Complete assay results for the last deep hole, testing the down dip
extension of the Main Vein Ore Body were received during the period.
    As previously reported the deep hole below Main Vein returned an
intercept of 192m @ 0.90 g/t Au from 121m to 313m down hole.
    The geophysical contractor GPX has mobilised to the Philippines and
preparation for the aeromagnetic survey is well underway.

    To view Table 2 of the Masbate Project, please see:
http://files.newswire.ca/578/Masbateproject.doc

    Safety

    LCAL has achieved a 3.5 million man hour safety milestone without a
single lost time injury during the entire construction phase of both the
process plant and the power plant.

    Environment and Permitting

    All the necessary sampling and measuring of discharges resulting from
onsite activities are being carried out to ensure compliance with the
Philippines Regulations and the specific requirements under the Environmental
Compliance Certificate ("ECC"). A Multi-Partite Monitoring Team comprised of
the Mines and Geosciences Bureau ("MGB"), Environmental Management Bureau,
Local Government Units, the eight impacted barangays and an NGO, amongst
others, maintain an active participation in monitoring the test results.
    There is also, an ongoing program managing permitting and titling issues.
The Philippines has an established framework that is well regulated and
monitored by the MGB and other related bodies, with continual input and
oversight. We continue to work with these bodies and address any requests made
and have a program that monitors the progression of permits required for
operation and the renewal of such permits as required.

    Community Relations

    With the transition into the operational phase, the community relations
programmes have been further enhanced. A dedicated community relations
department, supported by fourteen community facilitators from the eight
impacted barangays and specialist consultants, focussed on improving
communications into the local communities and implementing livelihood and
information and education programs have been retained.

    
    Key projects include:

    -   additional potable water supplies and identification of hazardous
        water sources;
    -   medical assistance of medicines and ambulance services;
    -   fishnet supply and associated livelihood training;
    -   fishpond repairs and associated livelihood training;
    -   educational assistance support;
    -   on-going farm to market road maintenance and repairs; and
    -   capacity building of existing NGO organizations in the district.
    

    As part of that process the project leadership is also focussed on
formalising arrangements with local small scale miners to ensure the project
can work collaboratively with all relevant parties, while also seeking to
improve their operating techniques to reduce any impact on safety and the
environment.
    A series of peaceful gatherings were held during commissioning on an
access road leading to the process plant. These rallies, whilst commonplace in
the Philippines and peaceful resulted in the distribution of inaccurate
information.
    The Masbate Gold Project has a broad level of support from the senior
political leadership in Masbate Province and the eight impacted local
barangays (villages) together with strong political and MGB support both in
Manila and Region V (which includes the Masbate province).
    FRC and PGPRC adopt a co-operative and supportive approach towards small
scale miners and adhere to the principles of responsible mining at its Masbate
Gold Project, as attested to by the MGB and evidenced by the construction of
the entire processing and power plants without even one lost time injury. That
same exceptional level of care and commitment will be applied to all aspects
of the operation moving forward including most importantly the environment and
the community programs and support.

    Expenditure

    As at 31 March 2009, the group has spent US$168.7M on the development of
the Masbate Gold Project. The capital development budget forecast is currently
in the order of US$175M. Total cash reserves at 31 March were US$24.7M,
(including the cash reserves of FRC) and all facilities have been drawn.

    
    SEGILOLA GOLD PROJECT UPDATE
    ----------------------------

    Summary
    

    Drilling of the 10,000m programme continued well during quarter, with
additional positive sample assays being returned. The total drilled meters up
to the end March 2009 is 8435.8m to give a total of 88 completed holes. A
slight improvement has been achieved in the assay turnaround times with
results being received from 38 sampled holes (including one re-sampled hole
following core review). Core logging and sample preparation is ongoing at the
Ilesha Camp, which also includes digital data capture and data entry into the
drill hole database.
    A local surveying contractor has been engaged to do a topographical
survey of the project site.
    Ongoing drill pad clearance with an excavator is being achieved to keep
ahead of the drill advance.
    Environmental Consultants (Fugro Consultants Nigeria Limited) have
reviewed the draft comments for the environmental baseline study report of the
project site and should be releasing the final report next quarter.

    Survey

    The ground survey of the project area is currently underway. Sphero Grid
Surveyors, an Osogbo based survey contractor was engaged to do a topographic
survey of the project site. A 2.5 km NNE-SSW grid centred on the main
mineralized vein have been cut. A 1km E-W grid line centred on the mineralized
zone is also being done. More E-W lines are being cut at 200m intervals along
the NNE-SSW baseline to form part of the grid to create a topographic contour
of the main mineralised zone.

    Table 3 can be viewed at: http://files.newswire.ca/578/Masbateproject.doc

    Metallurgical Testing

    Additional samples were sent for metallurgical testwork (bottle roll
test) to provide additional and ongoing confirmation of the good gold recovery
potential (95%+).

    
    CORPORATE
    ---------
    

    As at 31 March 2009, group cash was US$24.7M (including the cash reserves
of FRC) and we had drawn US$79.1M under the BNP arranged project finance
facility for the Masbate Gold Project and US$10m under the Meridian/Casten
Facility.
    At 31 March 2009, the Company had 12,725,000 options and 5,575,000
outstanding warrants on issue. The total issued capital of the Company as at
31 March 2009 was 254,286,976 fully paid ordinary shares.

    
    ABOUT CGA MINING LIMITED
    ------------------------
    

    CGA is listed on the Toronto Stock Exchange and Australian Securities
Exchange. The Masbate Gold Project in the Philippines has now been constructed
and we are currently commissioning the 4mtpa plant and power plant. The
project has a total indicated resource base of 4.55M ounces, total inferred
resource base of 3.22M ounces and a probable reserve of 3.03M ounces of gold.
It is currently forecast to produce over 200,000 ounces per annum. CGA is
completing a scoping study for the expansion of the plant throughput at
Masbate. The mining contract for the Masbate Gold Project has been awarded to
Leighton, the largest mining contractor in the world. There are currently four
drilling rigs on site.
    The Company is also currently undertaking a 10,000m drilling program at
Segilola, regarded as Nigeria's most advanced gold property. CGA has a
disciplined acquisition program focused on acquiring new gold projects with a
substantial initial resource with the capacity to grow materially and where
the development and operational experience of CGA can be applied to enhance
shareholder value.

    
    NATIONAL INSTRUMENT 43-101 AND JORC COMPLIANCE
    ----------------------------------------------
    

    Mr Geoff.G.Jones, F.Aus.I.M.M.CP Mng, CGA's Consulting Engineer, is
acting as the Qualified Person in compliance with NI 43-101 and JORC reporting
requirements with respect to this announcement. He has prepared and or
supervised the preparation of the scientific or technical information in this
announcement and confirms compliance with NI43-101 and JORC requirements.
    Further information relating to the Masbate Project is included in the
technical report entitled Technical Report on the Mineral Resources of the
Masbate Deposit, Masbate Province, Republic of the Philippines for CGA Mining
Limited prepared by Mining Associates Pty Ltd and available on SEDAR at
www.sedar.com, lodged 8 July 2008.
    Andrew James Vigar of Mining Associates Pty Ltd, a qualified person, has
verified the resource statement for the Masbate Project as disclosed in this
announcement, including sampling, analytical and test data underlying the
estimate. Verification of the data included numerous site visits, database
validation of historical drill results and review of sampling and assaying
protocols. The qualified person was satisfied with the verification process.
    A NI 43-101 compliant report has been lodged on www.sedar.com verifying
and supporting the new reserve statement made for the Masbate Project. Mr
Daniel Tuffin of Lower Quartile Solution Pty Ltd, a qualified person, has
verified the reserve statement for the Masbate Project as disclosed in this
announcement, including sampling, analytical and test data underlying the
estimate. Verification of the data included database validation of historical
drill results and review of sampling and assaying protocols. The qualified
person was satisfied with the verification process.

    
    CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
    ----------------------------------------------------
    

    This announcement includes certain "forward-looking statements" within
the meaning of Canadian securities legislation. All statements, other than
statements of historical fact, included herein including, without limitation,
statements regarding anticipated dates for construction and production, and
other milestones related to the Masbate Gold Project and other projects;
estimates of capital and operating costs, recovery rates, production estimates
and estimated economic return; and CGA's future operating or financial
performance, are forward-looking statements. Information concerning mineral
reserve and resource estimates including statements regarding the conversion
of inferred resources to reserves also may be deemed to be forward-looking
statements in that it reflects a prediction of the mineralization that would
be encountered if a mineral deposit were developed and mined. Forward-looking
statements involve various risks and uncertainties and are based on certain
factors and assumptions. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors that
could cause actual results to differ materially from CGA's expectations
include uncertainties related to fluctuations in gold and other commodity
prices and currency exchange rates; uncertainties relating to interpretation
of drill results and the geology, continuity and grade of mineral deposits;
uncertainty of estimates of capital and operating costs, recovery rates,
production estimates and estimated economic return; the need for cooperation
of government agencies in the development of the Masbate Gold Project; the
need to obtain additional financing to develop the Masbate Gold Project; the
possibility of delay in development programs or in construction projects and
uncertainty of meeting anticipated program milestones for the Masbate Gold
Project; and other risks and uncertainties disclosed under the heading "Risk
Factors" in CGA's Annual Information Form for the year ended 30 June 2008
filed with the Canadian securities regulatory authorities on the SEDAR website
at www.sedar.com.

    
    Appendix 5B

                 Mining exploration entity quarterly report
    Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

    Name of entity
    -------------------------------------------------------------------------
    CGA Mining Limited
    -------------------------------------------------------------------------

    ABN                                     Quarter ended ("current quarter")
    --------------------                    ---------------------------------
    88 009 153 128                          31 March 2009
    --------------------                    ---------------------------------

    Consolidated statement of cash flows
                                                  ---------------------------
                                                  Current quarter    Year to
                                                                       date
    Cash flows related to operating activities                       (three
                                                                     months)
                                                  $US'000            $US'000
                                                  ---------------------------
    1.1  Receipts from product sales and related
         debtors
    1.2  Payments for
         (a) exploration and evaluation               (896)           (5,514)
         (b) development (including working
         capital expenditure)                      (24,841)          (95,083)
         (c) production
         (d) administration                         (1,013)           (3,057)
    1.3  Dividends received
    1.4  Interest and other items of a similar
         nature received                                 5               341
    1.5  Interest and other costs of finance paid     (175)           (2,136)
    1.6  Income taxes paid
    1.7  Other (Business development)                 (136)             (396)
                                                  ---------------------------
         Net Operating Cash Flows                  (27,056)         (105,845)
    -------------------------------------------------------------------------

         Cash flows related to investing
          activities
    1.8  Payment for purchases of:
         (a) prospects
         (b) equity investments
         (c) other fixed assets                       (120)             (120)
    1.9  Proceeds from sale of:
         (a) prospects
         (b) equity investments
         (c) other fixed assets
    1.10 Loans to other entities                    (9,784)          (17,196)
    1.11 Loans repaid by other entities
    1.12 Other (payment of deferred acquisition
         cost)                                      (4,500)           (4,500)
                                                  ---------------------------
         Net investing cash flows                  (14,284)          (21,816)
                                                  ---------------------------
    1.13 Total operating and investing cash
          flows (carried forward)
    -------------------------------------------------------------------------
    1.13 Total operating and investing cash
          flows (brought forward)                  (41,340)         (127,661)
    -------------------------------------------------------------------------
         Cash flows related to financing
          activities
    1.14 Proceeds from issues of shares,
          options, etc.                             20,584            20,631
    1.15 Proceeds from sale of forfeited shares
    1.16 Proceeds from borrowings                   15,507            87,607
    1.17 Repayment of borrowings
    1.18 Dividends paid
    1.19 Other (capital raising costs)              (1,114)           (1,114)
                                                  ---------------------------
         Net financing cash flows                   34,976           107,123
    -------------------------------------------------------------------------

         Net increase (decrease) in cash held       (6,364)          (20,538)

    1.20 Cash at beginning of quarter/year to
          date                                      30,585            44,781
    1.21 Exchange rate adjustments to item 1.20       (334)             (356)
                                                  ---------------------------
    1.22 Cash at end of quarter(*)                  23,886            23,886
    -------------------------------------------------------------------------
    (*) an additional US$820,322 in cash is held by Filminera Resources
        Corporation


    Payments to directors of the entity and associates of the directors

    Payments to related entities of the entity and associates of the related
    entities

                                                              ---------------
                                                              Current quarter
                                                              $US'000
                                                              ---------------
    1.23 Aggregate amount of payments to the parties included
          in item 1.2                                                     221
                                                              ---------------
    1.24 Aggregate amount of loans to the parties included
          in item 1.10                                                      -
    -------------------------------------------------------------------------

    1.25 Explanation necessary for an understanding of the
          transactions
         --------------------------------------------------------------------
         Payment of directors' fees, salaries, taxes, and superannuation.
         --------------------------------------------------------------------

    Non-cash financing and investing activities

    2.1  Details of financing and investing transactions which have had a
          material effect on consolidated assets and liabilities but did not
          involve cash flows
         --------------------------------------------------------------------
         n/a
         --------------------------------------------------------------------
    2.2  Details of outlays made by other entities to establish or increase
          their share in projects in which the reporting entity has an
          interest
         --------------------------------------------------------------------
         n/a
         --------------------------------------------------------------------

    Financing facilities available

    Add notes as necessary for an understanding of the position.

                                                     ------------------------
                                                       Amount
                                                       available  Amount used
                                                       $US'000    $US'000
                                                     ------------------------
    3.1  Loan facilities                                   1,280      89,020
                                                     ------------------------
    3.2  Credit standby arrangements                           -           -
    -------------------------------------------------------------------------

    Estimated cash outflows for next quarter

                                                                 ------------
                                                                  $US'000
                                                                 ------------
    4.1  Exploration and evaluation                                      573
                                                                 ------------
    4.2  Development                                                   6,100
    -------------------------------------------------------------------------
         Total                                                         6,673
    -------------------------------------------------------------------------

    Reconciliation of cash
                                                        ---------------------
    Reconciliation of cash at the end of the
     quarter (as shown in the consolidated              Current     Previous
     statement of cash flows) to the related            quarter     quarter
     items in the accounts is as follows.               $US'000     $US'000
    -------------------------------------------------------------------------
    5.1  Cash on hand and at bank                         23,494      30,121
                                                        ---------------------
    5.2  Deposits at call
                                                        ---------------------
    5.3  Bank overdraft
                                                        ---------------------
    5.4  Other (AUD account)                                 392         464
    -------------------------------------------------------------------------
         Total: cash at end of quarter (item 1.22)(*)     23,886      30,585
    -------------------------------------------------------------------------
    (*) an additional US$268,784 in cash is held by Filminera Resources
        Corporation

    Changes in interests in mining tenements

                             ------------------------------------------------
                                         Nature of  Interest at  Interest at
                              Tenement   interest    beginning        end of
                              reference  (note (2))  of quarter      quarter
                             ------------------------------------------------
    6.1  Interests in mining
          tenements relinquished,
          reduced or lapsed         n/a         n/a         n/a          n/a
                             ------------------------------------------------
    6.2 Interests in mining
         tenements acquired
         or increased               n/a         n/a         n/a          n/a
                             ------------------------------------------------


    Issued and quoted securities at end of current quarter

    Description includes rate of interest and any redemption or conversion
    rights together with prices and dates.

                          ---------------------------------------------------
                                                                 Amount paid
                                                    Issue price       up per
                                                   per security     security
                                Total       Number  (see note 3) (see note 3)
                               number       quoted       (cents)      (cents)
    -------------------------------------------------------------------------
    7.1 Preference +
         securities
         (description)
                          ---------------------------------------------------
    7.2 Changes during
         quarter
         (a) Increases
         through issues
         (b) Decreases
         through returns
         of capital,
         buy-backs,
         redemptions
    -------------------------------------------------------------------------
    7.3 +Ordinary
         securities       254,289,976  254,289,976
                          ---------------------------------------------------
    7.4 Changes during
         quarter
         (a) Increases
         through issues
         Private placement
         Option exercises
         (b) Decreases
         through returns
         of capital,       20,000,000   20,000,000       C$1.25       C$1.25
         buy-backs            410,000      410,000       A$0.90       A$0.90
    -------------------------------------------------------------------------
    7.5 +Convertible
         debt securities
         (description)
                          ---------------------------------------------------
    7.6 Changes during
         quarter
         (a) Increases
         through issues
         (b) Decreases
         through securities
         matured, converted
    -------------------------------------------------------------------------
    7.7 Options
         (description and                              Exercise       Expiry
         conversion factor)                               price         date
                          ---------------------------------------------------
    7.8 Issued during
         quarter
                          ---------------------------------------------------
    7.9 Exercised during
         quarter
                          ---------------------------------------------------
    7.10 Expired during
          quarter
    -------------------------------------------------------------------------
    7.11  Debentures
           (totals only)            -            -
    -----------------------------------------------
    7.12 Unsecured notes
          (totals only)        25,000
                          -------------------------

    Compliance statement

    1   This statement has been prepared under accounting policies which
        comply with accounting standards as defined in the Corporations Act
        or other standards acceptable to ASX (see note 4).

    2   This statement does give a true and fair view of the matters
        disclosed.

    Sign here:    "signed"      Date: ..28 April 2009................

    (Company secretary)

    Print name: .Hannah Hudson................

    Notes

    1   The quarterly report provides a basis for informing the market how
        the entity's activities have been financed for the past quarter and
        the effect on its cash position. An entity wanting to disclose
        additional information is encouraged to do so, in a note or notes
        attached to this report.

    2   The "Nature of interest" (items 6.1 and 6.2) includes options in
        respect of interests in mining tenements acquired, exercised or
        lapsed during the reporting period. If the entity is involved in a
        joint venture agreement and there are conditions precedent which will
        change its percentage interest in a mining tenement, it should
        disclose the change of percentage interest and conditions precedent
        in the list required for items 6.1 and 6.2.

    3   Issued and quoted securities The issue price and amount paid up is
        not required in items 7.1 and 7.3 for fully paid securities.

    4   The definitions in, and provisions of, AASB 1022: Accounting for
        Extractive Industries and AASB 1026: Statement of Cash Flows apply to
        this report.

    5   Accounting Standards ASX will accept, for example, the use of
        International Accounting Standards for foreign entities. If the
        standards used do not address a topic, the Australian standard on
        that topic (if any) must be complied with.
    





For further information:

For further information: ENQUIRIES: Australian Contact: President & CEO
- Michael Carrick, Tel: +61 8 9263 4000, Fax: +61 8 9263 4020, Email:
mcarrick@cgamining.com; US Contact: Independent Chairman - Mark Savage, Tel:
(505) 344-2822, Fax: (505) 344-2922, Email: marksavage@comcast.net

Organization Profile

CGA Mining Limited

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