The Mining Cycle at Gympie Eldorado Gold Mines

At our Monkland Mine at Gympie, we operate a deep, narrow vein gold mine using hand held equipment, rail mounted haulage and narrow shafts. This is in many respects the old-fashioned way and is well suited most of the orebody geometry exposed to-date. We have also commenced some long hole stoping and we use alimaks for some jobs. The heart of our particular mining style is the employment and retention of experienced miners with remuneration based on productivity. We do our planning/monitoring/supervision down to the level of daily individual productivity. In focussing on cycles per se, we have chosen not to talk about drill and blast cycles or cycles for mine development, stope preparation or drawdown and haulage. Instead we have stepped right back from the operation as presently run and have adopted a very broad view of the mining cycle. We will in this presentation intertwine the ebb and flow of, exploration, project sponsorship, development, production and cash returns to owners. The time line considered spans both history and predicted future.