PG/AAB Royalties,Revenues,R...
posted on
Apr 26, 2012 12:18AM
Red Lake and Geraldton are Canada's PREMIER addresses for gold
Aberdeen International Inc. “AAB” TSX
ROYALTY INTERESTS ON MINERAL PROPERTIES
1% Gold NSR each from Buffelsfontein Mine (Simmers & Jack) (8 million oz) and Mine Waste Solutions / First Uranium , (25 million oz); both are in production.
US$2.5M expected over the next 12 months.
Simmers’ Village Main Reef Limited Buffels Mine
Simmers produced approximately 58,119 ounces of gold from its South African Buffels mine in the 2011 calendar year, compared with approximately 77,589 ounces of gold in the previous calendar year.
Production from the Simmers’ Buffels mine provided the Company (AAB) with gold royalty revenue of $857,567 for the year ended January 31, 2012.
During the year ended January 31, 2011, royalty revenue from the Buffels mine was $978,271.
Production from the Buffels mine was subject to the 1% NSR since January 2009.
First Uranium Mine Waste Solutions Tailings Recovery Operation
In December 2007, in addition to the royalty on Simmers’ Buffels mine production, Aberdeen began receiving a gold royalty from the Mine Waste Solutions Tailings Recovery Operation (“MWS Tailings Dumps”) owned by First Uranium. The MWS Tailings Dumps provide a gold and uranium resource of previously treated material. The MWS Tailings Dumps are 100%-owned and operated by First Uranium and are being mined using high-pressure water cannons to produce a slurry, that is pumped to the processing plants and separated into gold and uranium using a leaching process.
First Uranium purchased a 600,000 tonne per month gold recovery plant adjacent to the MWS Tailings Dumps to help facilitate the acceleration of gold production.
First Uranium produced approximately 96,274 ounces of gold from treating the MWS Tailings Dumps in the 2011 calendar year, compared with approximately 79,101 ounces in the previous calendar year. Production from the MWS Tailings Dumps was subject to the 1% NSR.
As a result, the Company(AAB) recorded royalty revenue of $1,551,977 from the MWS Tailings Dumps for the year ended January 31, 2012 versus $1,031,453 for fiscal 2011.