19/05/2009 - 09:14

GRD Minproc secures Laos study contract

19/05/2009 - 09:14

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GRD Minproc has been awarded a contract by Brisbane-based PanAust to carry out the definitive feasibility study for the Ban Houayxai gold-silver deposit in Laos.

GRD Minproc secures Laos study contract

GRD Minproc has been awarded a contract by Brisbane-based PanAust to carry out the definitive feasibility study for the Ban Houayxai gold-silver deposit in Laos.

 

The announcement is below:

 

Leading engineering and project delivery business GRD Minproc, a subsidiary of GRD Limited (ASX: GRD), has been awarded a contract by PanAust Limited to undertake the Definitive Feasibility Study for the Ban Houayxai gold-silver deposit in Laos.

The Ban Houayxai deposit is approximately 25km west of the PanAust Phu Kham operations where GRD Minproc is currently undertaking a series of process optimisation and sustaining capital works.

The pre-feasibility study, which was completed last year, identified the potential for a low cost operation at Ban Houayxai, using direct process leach technology, with an annual production of 100,000oz to 130,000oz of gold and 700,000oz to 800,000oz of silver from a minimum six year mine life.

The current target date for commencement of gold-silver production at Ban Houayxai is 2011.

GRD Chief Executive Cliff Lawrenson said GRD Minproc's Brisbane Office would undertake the Ban Houayxai study for PanAust, with the work adding to the company's already extensive experience in South East Asia and its pipeline of gold related work.

"This contract reaffirms our decision 18 months ago to open the Brisbane office as our Australian east coast hub with a view to expanding opportunities on the eastern seaboard and across South East Asia," Mr Lawrenson said.

"Importantly, this represents repeat business with PanAust and this award strengthens the excellent relationship our two companies have built up over the past 12 months."

GRD first opened an office in Brisbane in 1980.

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