Tagesbericht: Gold, Analyse: Dominion Mining (Australien) - 500 Beiträge pro Seite

[Goldhotline]

Tagesbericht

Gold bei 265 $/oz (-1 $/oz), Goldaktien uneinh., Analyse: Dominion Mining (Australien)

Der Goldpreis konnte nach der gestrigen Londoner Auktion sprunghaft von 263 auf 266 $/oz
ansteigen. Im späten Londoner und frühen New Yorker Handel wurde der Preisanstieg gestoppt
und der Goldpreis zeigte im New Yorker Handel die in den letzten Wochen regelmäßige Schwäche
und fiel auf 264 $/oz zurück. Heute morgen kann sich der Goldpreis im Handel in Sydney und
Hongkong wieder auf 265 $/oz befestigen. Die Goldaktien entwickeln sich weltweit weiterhin
uneinheitlich. Nachdem sich die Preise für Platin und Palladium stabilisieren konnten, stieg der
südafrikanische Platinindex heute morgen auf ein neues Allzeithoch. Die gleichzeitige sprunghafte
Aufwärtsentwicklung des Rhodiums deutet eine Fortsetzung der Haussebewegung im gesamten
Sektor der Platingruppenmetalle an.

Der nordamerikanische xau-Goldminenindex verbesserte sich um 0,8 % oder 0,4 auf 44,5 Punkte.
Bei den Standardwerten stiegen Placer Dome 1,5 % und Meridian 1,2 %. Bei den kleineren Werten
brachen TVX um 10,3 %, Echo Bay um 10,0 % und Kinross um 6,7 % ein.

Die in New York gehandelten südafrikanischen Werte konnten ihren Abwärtstrend stoppen.
Durban Roodepoort Deep erholten sich um 4,8 % und Harmony um 3,5 %. Ashanti fiel trotz eines
guten Quartalsergebnis um 4,7 % zurück.

Der australische Goldminenindex fiel um 0,6 % oder 3,9 auf 672,2 Punkte. Bei den
Standardwerten fielen Newcrest um 3,2 % und Normandy Mining um 2,1 %. Delta Gold konnte
gegen den Trend um 5,1 % zulegen. Bei den kleineren Werten gab Aquarius Platinum um 2,6 %
nach. Bei den Explorationswerten konnten Climax um 20,0 %, Zimbabwe Platinum um 11,1 % und
Tribune Resources um 2,7 % zulegen.


Die aktuellen Topempfehlungen der Goldaktien (maximale Kauflimite in Klammern):

Australien:
Sicherheitsorientiert:
Delta Gold 1,04 A$ (2,40 A$), Normandy Mining 0,94 A$ (1,20 A$, aktuelle Dividendenrendite 6,4
%), Pacmin 1,35 A$ (1,60 A$), Lihir 0,57 A$ (0,70 A$), Newcrest 3,68 A$ (4,00 A$), Sons of
Gwalia 6,06 A$ (4,80 A$, jetzt eine Halteposition)

Spekulativ:
New Hampton 0,22 A$ (0,26 A$), Hill 50 0,79 A$ (1,10 A$), Spinifex 0,115 A$ (0,15 A$), Otter
Gold 0,305 A$ (0,32 A$), Tribune Resources 1,33 A$ (0,25 A$, jetzt eine Halteposition), Aquarius
Platinum 8,60 A$ (2,80 A$, jetzt eine Halteposition).

Südafrika:
Sicherheitsorientiert:
Harmony 4,30 Euro (6,50 Euro), Gold Fields 3,10 Euro (4,50 Euro), Anglogold (ADR zu 1/2Aktie;
GB) 16,60 Euro (28,00 Euro)

Spekulativ:
Durban Roodepoort Deep 0,80 Euro (1,80 Euro)

Nordamerika:
Sicherheitsorientiert:
Placer Dome 8,50 $ (12,00 $), Freeport 7,4375 $ (16,00 $), Meridian 5,0625 $ (8,00 $), Goldcorp
6,125 $ (7,00 $), Iamgold, 2,70 C$ (3,00 C$), Homestake 3,8125 $ (8,00 $), Newmont 13,8125 $
(22,00 $), Barrick 13,6875 $ (18,00 $), Battle Mountain 1,4375 $ (2,00 $), Franco-Nevada 13,85
C$ (14,00 C$)

Spekulativ:
TVX 1,625 $ (5,00 $), Kinross 0,4375 $ (1,25 $)

Bemerkungen:

-Achtung: Wegen der Marktenge vieler Werte müssen alle Orders limitiert werden!

-Bis auf Otter Gold werden alle Werte auch in Deutschland gehandelt.

-Bei New Hampton wurden am 24.12.99 Mineral Deposits Limited (MDL) Aktien im Verhältnis von 5
MDL für 18 New Hampton Aktien und Gratisoptionen im Verhältnis von 1 Option, Laufzeit 31.05.01,
Basis 0,23 A$ für 2 New Hampton Aktien abgeschlagen.

-Am 31.07.00 wurden die Aktien der TVX im Verhältnis von 5 alten Aktien zu 1 neuen Aktien
zusammengelegt.


Unternehmensmeldung
(AUS=Australien, NA=Nordamerika, SA=Südafrika, $=US$, MKP=Marktkapitalisierung),
Marktkapitalisierung immer in A$, Produktionskosten immer in US$

08.11.00 Dominion Mining (AUS, MKP 22,0 Mio A$) meldet für das Septemberquartal
Bohrergebnisse von bis zu 11,7 g/t über eine Bohrkernlänge von 5 Metern aus dem Homasi
Projekt in Ghana. In dem Projekt konnte bislang eine Ressource über 455.000 oz Gold bei einem
Goldgehalt von 1,8 g/t ausgewiesen werden. Vielversprechende Bohrergebnisse von bis zu 3,0 g/t
über eine Bohrkernlänge von 3 Metern werden auch aus dem South West Yilgarn Projekt
gemeldet. Weitere Explorationsvorhaben blieben ohne Ergebnisse. Die Erschließung des
tasmanischen Hellyer Projektes wurde aufgegeben. Die Ressource des Challenger Projektes, das
in einem 50/50 Joint Venture mit Resolute (AUS) betrieben wird, blieb ebenfalls unverändert bei
257.000 oz (Dominion Anteil). Der Cashbestand lag am Quartalsende bei 21,1 Mio A$, was 0,32
A$/Aktie entspricht.

Beurteilung: Der Aktienkurs der Dominion Mining wird auf der Basis der aktuellen Bewertung voll
durch den Cashbestand gedeckt. Zusätzlich verfügt Dominion über Goldressourcen von über
700.000 oz sowie über vielversprechende Explorationsgebiete. Beim aktuellen Aktienkurs von 0,33
A$ bietet sich Dominion damit als relativ risikoarme Beimischung für ein Explorationswertedepot
an, die sich auch hervorragend zum Trading (Kauf unter 0,35 A$, Verkauf über 0,40 A$) eignet.

Empfehlung: Halten, unter 0,40 A$ kaufen, aktueller Kurs 0,33 A$. Dominion wird in Deutschland
mit geringen Umsätzen in Berlin gehandelt (vgl. Halteempfehlung vom 18.05.00 bei 0,45 A$).

Die Goldhotline

[gholzbauer]

Update:
* DOM hat die ghanaischen Explorationsgebiete zu bis 50% an Orezone (Kanada) ausgefarmt, Orezone kann die restl. 50% durch Orezone-Aktien erwerben.
* DOM hält nun 100% an Gawler (bisher 50% Resolute) und will die Entwicklung von Challenger beschleunigen.

siehe www.dml.com.au
unter "Reports"

[gholzbauer]

Dominion takes up challenge
By ANTHONY KEANE
05dec00

DOMINION Mining has resurrected the Challenger gold project in South Australia by taking full control of its joint venture with troubled miner Resolute.

PERTH-BASED Dominion announced yesterday it would immediately start a feasibility study on Challenger, and expected to make a decision by June.
Challenger, 900km north-west of Adelaide, has a high-grade gold resource of 503,000 ounces.

Dominion managing director Peter Alexander said developing the mine would cost "in the order of $15 million".

The project had been held by a fifty/fifty Gawler Craton venture between Dominion and Resolute.

While a cashed-up Dominion wanted to push forward, Resolute was struggling with asset writedowns, a shocking share price and focus on Africa.

Dominion said it would purchase Resolute`s 50 per cent stake of the Gawler joint venture through the issue of 2.5 million Dominion shares, $750,000 cash and a $20 an ounce royalty paid on any future gold production above 100,000 ounces.

Resolute will retain its 50 per cent stake in the Yumbarra nickel-cobalt project in SA`s west, but Dominion will become operator.

Mr Alexander said Challenger`s resource of 1.8 million tonnes at a grade of 8.45 grams of gold per tonne would be developed initially as an open-cut operation producing more than 100,000 ounces over two years, and then a long-life underground mine producing 50,000 ounces a year.

Apart from Challenger, the company`s 19,000 square kilometres of tenements in the Gawler Craton had about 50 other gold anomalies that required exploration work.

"The potential for additional discoveries is still quite high," Mr Alexander said.

Dominion`s Challenger feasibility study, which started yesterday, would involve defining a water supply, additional metallurgical work and Native Title issues, he said. Development of the mine was subject to Native Title clearances and government approval.

"We would hope that we could make a decision to go by June, and it`s probably only six to eight months of construction because we would move a second-hand mill from Western Australia over there," Mr Alexander said.

"The mine would be a fairly small development and we think that it would be in the order of $15 million. With cash of over $20 million, we are well-positioned to pursue the exploration and development of our key assets."

[gholzbauer]

(Quelle: www.dml.com.au, Homepage von Dominion)


15 March 2001

DOMINION ANNOUNCES SPECTACULAR CHALLENGER DRILLING RESULTS
EXPLORATION SUCCESS ON TWO FRONTS AS HALF-YEARLY RESULTS RELEASED
Dominion Mining Limited (ASX: DOM) today announced a spectacular series of drilling results from its 100%-owned Challenger Gold Project in South Australia, underlining the exceptionally high-grade nature of the deposit as it moves closer to launching project development in the second half of 2001.

The in-fill drilling results, which were designed to confirm the initial 100,000 ounce open pit gold resource at Challenger could lead to a future resource upgrade. This coincides with the release by Dominion, of a progress report on the Bankable Feasibility Study on Challenger and the Company`s Half Yearly accounts.

The Challenger drilling results included two stunning intersections of 12 metres at 56 g/t gold and 14 metres at 21.3 g/t gold. These results occur at the bottom of the proposed opencut offering considerable encouragement for both the initial feasibility and an eventual transition to underground mining.

The most important feature of the Feasibility Study to date is the delineation of a water supply in close proximity to the proposed site for the Challenger treatment plant, eliminating the last remaining item of uncertainty relating to the infrastructure required to implement the project.

The project is also subject to the successful completion of negotiations with registered Native Title claimants. These are well underway.

Dominion also released encouraging exploration results from its south west Yilgarn Project, a major regional project in Western Australia, following the latest phase of work.

Challenger Gold Project (100%)

Dominion in December, reached agreement to purchase the 50% interest in the Gawler Joint Venture assets including the Challenger Gold Project held by its former partner, Resolute Ltd. Total consideration for the acquisition, was $750,000 in cash, the issue of 2.5 million Dominion shares and a royalty on future production.

As part of its focus on low-cost development opportunities with the potential to generate significant shareholder returns, Dominion has committed to a Bankable Feasibility Study on developing the Challenger deposit. This study is on track for completion by 30 June 2001.

The Company`s Managing Director, Mr Peter Alexander, said the Feasibility Study was progressing extremely well, with all results to date either meeting or exceeding expectations.

"The in-fill drilling program was designed to test the interface between the underground and open pit deposits and define precisely the limits of the open pit," Mr Alexander said. "The results are particularly encouraging, as they confirm that the deposit has the potential to significantly exceed our expectations in terms of gold yield once in production. This is typical of a complex, high-grade system such as that which exists at Challenger."

Best results from the reverse circulation (RC) drilling program included:

12 metres at 56.0 g/t from 137 metres
14 metres at 21.3 g/t from 125 metres
11 metres at 10.5 g/t from 85 metres
13 metres at 10.9 g/t from 12 metres
10 metres at 7.7 g/t from 90 metres
Mr Alexander said Dominion was confident that a formal go-ahead for the Challenger Project development would be given early in the third quarter of 2001, positioning Dominion to return to gold production by the first quarter of 2002.

"We are very focused on this project, which we believe will develop into a high-quality, low-cost operation generating significant cash flows," Mr Alexander said.

Dominion`s current planning, pending the outcome of the Bankable Feasibility Study, is for development of an initial open-cut operation of 100,000 ounces over two years transitioning to a high-grade underground mine producing 50,000 ounces per year.

Preliminary cost estimates suggest that site operating cash costs will be approximately $240/ounce, while capital costs including mining pre-strip are anticipated to be around $15 million. This would place Challenger at the low end of the cost curve, underlining the project`s ability to achieve a very quick payback of capital and generate a high internal rate of return.

Optimisation work currently being carried out as part of the feasibility study is expected to further enhance these figures.

South West Yilgarn, Western Australia (100%)

Dominion has built up an extensive tenement portfolio in Western Australia`s south west Yilgarn, currently totalling in excess of 11,500 square kilometres and covering a major gravity structure.

Following further additions to this ground position during the Half Year, Dominion`s tenements now cover at least 750 kilometres of major regional structures interpreted from geophysical data.

During the December 2000 Quarter, the Company defined over 20 new anomalies in addition to the very large Bullock Pool anomaly - previously identified as a most promising regional target.

Dominion recently completed an extensive program of in-fill RAB and Aircore drilling along with a limited RC drilling program at Bullock Pool. Wide spread, low-grade mineralisation up to 9metres at 2.0g/t Au was intersected in very favourable lithologies.

"While progress to date has been steady, a large system has been defined and the focus now is to identify specific mineralized zones with the potential to deliver deposits relatively quickly within this large system. To this end a new trial program of geophysics and detailed geochemistry has commenced," Mr Alexander said.

On other anomalies both to the east and west of Bullock Pool infill surface sampling is continuing. Surface samples up to 460ppb gold have been collected from these anomalies. RAB drilling has now commenced in order to define bedrock mineralisation.

Other Projects

Dominion`s focus is on development of the Challenger Gold Project in the near-term and on advancing other promising exploration projects.

In line with this strategy, in December an agreement was entered into with the Canadian company Orezone Resources Inc for Orezone to earn an interest in Dominion`s Ghanaian exploration properties. The agreement was subject to Orezone`s due diligence and was dependent on their ability to fund ongoing exploration expenditure.

Orezone has successfully completed its due diligence, however it has not been successful in securing the necessary funding to meet its exploration obligations. The agreement with Orezone has now been terminated though discussions are continuing with that company. Dominion is also in discussion with other potential farm-in participants.

At the Company`s Yumbarra Joint Venture in South Australia, which remains a 50/50 joint venture with Resolute Ltd and Dominion as manager, exploration work continued following the definition of promising coincident nickel, copper and cobalt geochemical anomalism and ground geophysical anomalies.

Additional detailed geochemical sampling is underway in order to more accurately define targets for future drilling.

Financial Results & Corporate Update

The operating result for the six month period was a loss of $2.541 million. This was after taking into account the write-off of all exploration expenditure incurred for the 6 months of $1,906,000 and the acquisition cost attributed to the Gawler Joint Venture exploration assets of $684,000.

Dominion remains in a very strong financial position, with cash reserves of $18.953 million at the 31 December 2000 balance date. This will enable the Company to proceed with the Challenger development by obtaining an appropriate package of debt finance, avoiding the

Following the retirement last year of long serving Director Mr Paul Eastaway, Mr Gary Lawler has announced his intention to step down from the Board effective 31 March 2001. Gary made a valuable contribution to Dominion as a Director and Chairman of several of our Governance committees. We thank him for this work on behalf of the shareholders.

In order to maintain the appropriate balance between non-executive and executive board positions under Dominion`s corporate governance practices, Mr Peter Bamford has agreed to step down from the Board as an Executive Director also effective 31 March 2001. Mr Bamford continues his most important role with the Company as General Manager - Operational Development and as a director of Dominion Gold Operations Pty Ltd, with primary responsibility for the development of the Challenger Project.

As from 1 April 2001 Dominion`s Board will consist of two executive directors and two non-executive directors: Mr Peter Joseph (non-executive Chairman), Mr Peter Alexander (Chief Executive Officer), Mr Ross Coyle (Chief Financial Officer and Company Secretary) and Mr David Gordon (non-executive Director).

Mr Greg Brindal recently retired as company secretary after 10 years of dedicated service with the Company and his contribution is also acknowledged with thanks.

The Board`s strategic focus is on the twin goals of achieving a return to production and cash flow via a successful development at Challenger and further exploration success in the Gawler or South West Yilgarn. To this end the Board intends to conserve the Company`s resources to bring about these goals and to preserve the highly valuable and respected exploration team and culture.

Indicative of this commitment, the Board has decided to further reduce Dominion`s corporate overheads starting with itself. Accordingly the Board has instituted a 30% pay cut for non executive directors and executive management has also agreed to accept a 15% reduction in remuneration and to cut other overheads.

The Board intends to issue some further options to staff subject to regulatory requirements. At the end of the year the Board will consider issuing options to directors with a view to more closely aligning the interests of all stakeholders in Dominion. Any recommendation in this regard will be put to shareholders at the Company`s annual general meeting.

"We will continue to be proactive and prudent in our use of resources but the outlook for Dominion remains encouraging with the Challenger development likely and continuing success on the exploration front," Mr Alexander said.







Peter Alexander
Managing Director

For further information please contact:
Peter Alexander
Managing Director
Tel: [phone]
Fax: [phone]

[gholzbauer]

http://www.thewest.com.au/20011121/business/tw-business-home…

Dominion to regain status as gold producer

AFTER a six-year absence from the sector, Dominion Mining Ltd will regain its gold producer status when the Challenger project in South Australia moves into production in August 2002.

A leading gold miner in the 1980s, the Perth-based company sold most of its gold mining interests to Plutonic Resources Ltd in 1995 for $80 million.

It turned its attention to the development of the Yakabindie nickel project in WA. However a number of problems, including the collapse of a joint venture deal with Daewoo Corp, prompted Dominion to sell the project in 1998 to North Ltd for $18 million.

The imminent construction of Challenger will see the once illustrious miner begin its objective of building a profitable gold business.

"The development of this wholly owned project will enable Dominion to re-establish a strong gold business after an absence of six years from the sector," chairman Peter Joseph told shareholders at the company`s annual general meeting today.

The company began an exhaustive search for a suitable acquisition following the sale of Yakabindie but signalled its intention early this year to focus on internally generated growth.

It culminated in an agreement with gold miner Resolute Ltd to acquire its 50 per cent share in Challenger.

Mr Joseph said Dominion was in the process of finalising formal documentation for a $10.5 million project debt facility with Bank of Western Australia Ltd to underpin the project`s stage one development.

The balance of the $17.1 million capital required will come from Dominion`s internal cash resources.

First production is scheduled for August 2002 with the initial open cut operation containing a 578,000 tonne reserve averaging 5.97 grams per tonne.

Over a 20 month period, the mine will produce 105,000 ounces of gold at an average cost of $278 per ounce.

Managing director Peter Alexander said Dominion`s cash position at the end of the stage one development would stand at about $20 million.

The open pit operation is then expected to move seamlessly into a high grade underground operation producing 45-50,000 ounces a year at an average head grade of about 10 gpt for an additional four to five years.

"The initial 20 month open pit project will have a significant impact on the finances of the company," Mr Alexander said.

"It will allow the group to carry on with an aggressive exploration program and also initiate the underground development."




-AAP

[Dottore Lupo]

@gholzbauer: war heute im directors report schon zu lesen.

Sieht nicht schlecht aus!!

Werde sie auf dem Radar behalten.

cu DL

[manfred1_I]

Weiss einer warum Menzies heute soviel Umsatz
hatten in Australien?

[Arhaes]

Ich habe mir erlaubt einen Teil der SA-Gewinne in Dominion zu investieren.


Die heutigen Bohrergebnisse bestaetigen den hochgradigen Erzkoerper.

Ich persoenlich habe schon seit langer Zeit keine so guten Bohrresutate in AU mehr gesehen.

Im Seb. beginnt die Produktion

MfG


DOMINION MINING LIMITED 2002-05-23 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
DISCOVERY

Following the development of a geochemical technique that would allow
a quick reconnaissance of such a vast area, Dominion, as manager of
the Gawler Joint Venture, began calcrete sampling its, by then, large
land holding on 1.6 kilometre centres. The Challenger anomaly was
located during this initial survey with a calcrete sample assaying
180 ppb Au. Detailed sampling enhanced this result to 620 ppb Au. The
anomaly at > 100 ppb Au was in the order of 250 metres in diameter
and at > 30 ppb Au measured 1.2 kilometres x 500 metres (Fig 2).

An east-west angle RAB traverse intersected values of 12 metres @ 4.4
g/t Au and 28 metres averaging 5.9 g/t Au. Further angle RAB drilling
confirmed the lode orientation and resource drilling commenced. The
Challenger area (10 kilometre radius) has seen a total of 158,000
metres of drilling completed, comprising:

84,000 metres RAB
60,000 metres RC
12,000 metres Diamond
2,000 metres Aircore

The initial Challenger discovery was made for $1.5 million and in all
Gawler Craton exploration the Gawler Joint Venture spent $19 million.

GEOLOGY AND MINERALISATION

The Challenger lode systems are contained within a feldspar, quartz,
corderite, garnet, biotite variation of the Christie gneiss. Age
dating indicates that peak metamorphism of the host rock was 2445 +/-
32 ma and it appears that the mineralisation was post this event.

The high grade coarse gold mineralisation at Challenger is found
within and adjacent to coarse grained quartz, feldspar, garnet,
biotite veins and is associated with minor disseminations of
arsenopyrite, loellingite and pyrrhotitie. Bismuth minerals,
tellurides, chalcopyrite, pentlandite and sphalerite are also present
in small concentrations.

The mineralisation occurs within defined shoots which generally have
short strike lengths but are very consistent and elongated down
plunge. This consistency is supported by the fact that every drill
section has intersected the mineralisation over a down plunge
distance of 800 metres (Fig. 3).

RESOURCE - RESERVES

The resource has been extensively drilled (10m sections) to a
vertical depth of 150 metres and wide spaced drilling (50m sections)
has then defined the lodes to a vertical depth of 400 metres.

Some of the better intersections from the shallow resource area are
tabulated below:

33 metres @ 9.3 g/t Au (307);
19 metres @ 22.5 g/t Au (427);
12 metres @ 17.9 g/t Au (214);
14.4 metres a 24.3 g/t Au (350);
53.88 metres @ 38.8 g/t Au (2090);
13 metres @ 18.2 g/t Au (236);
18 metres a 16.3 g/t Au (293);
16 metres a 16.0 g/t Au (256);
12 metres @ 56.0 g/t Au (672); and
14 metres @ 21.3 g/t Au (298).

These intersections demonstrate the high grade nature of the upper
part of the Challenger deposit and the lode geochemistry can be seen
from the cross section (Fig 4).

The resources within this area is 647,000 tonnes averaging 5.6 g/t
Au.

Intersections below this level include:
13.4 metres @ 26.0 g/t Au (348);
8.1 metres @ 13.06 g/t Au (105);
4.7 metres @ 30.87 g/t Au (145);
10.2 metres @ 20.8 g/t Au (212);
4.2 metres @ 47 g/t Au (197); and
12.0 metres @ 30.5 g/t Au (366).

The total resource to a vertical depth of 500 metres is 1,700,000
tonnes averaging 8.5 g/t Au.

A copy of the Figures is available in PDF format on www.asx.com.au.
Alternatively it is available for purchase from ASX Customer Service
on 1 300 300 279.

MORE TO FOLLOW

[Arhaes]

Hier die genauen Daten fuer die Durchfuerung des Projekts.


Kleine ANMERKUNG:

der Goldgehalt mit "578,000 tonnes averaging 5.97 g/t Au"
liegt beinahe auf der Oberflaeche, in SA muss man dazu 7000 m in ein Loch steigen.

MfG



DOMINION MINING LIMITED 2002-05-23 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
FEASIBILITY STUDY

The bankable feasibility study for the Challenger project was
completed in September 2001 and a decision to proceed was made in
December following obtaining a ($10.5 million) financing package from
BankWest.

Major challenges during the feasibility study were:

* Development of a reserve.
* Definition of a water supply.
* Settlement of two Native Title claims.
* Commonwealth Defence Department agreement - Woomera.
* Conceptual underground study.

The final parameters for the development are:

* Reserve: 578,000 tonnes averaging 5.97 g/t Au
* Production: 105,000 ounces (Stage 1)
* Mine Life: 20 months (+low grade and underground)
* Operating Costs: A$278 per ounce
* Capital and Pre-development: $17.8 million
* State Government Royalties: $1 million
* Employ: 70 direct/150 indirect

DEVELOPMENT

The treatment facility will be largely second hand which will be
refurbished and will have a capacity of 350,000 tonnes per annum. It
will be a conventional CIP facility with a large gravity circuit as
we expect to recover some 50% of the gold via the gravity circuit.

Currently work has seen the:

(1) Road upgraded.
(2) Camp located on site.
(3) Pre strip started.
(4) Mill and plant foundation work completed.
(5) Water supply and RO plant operating.

Gold production is expected to commence by the end of September 2002
and will see 65,000 ounces produced in the first 12 months and
105,000 ounces produced in 20 months.

There will be a low grade stock pile remaining which should be
capable of treatment following the closure of the open pit. The lower
cut off used was 1.75 g/t Au at a gold price of $500/ounce and given
the current gold price some of this low grade material will be
treated economically.

To assist with the development a $10.5 million loan facility was
acquired from BankWest and 79,000 ounces of gold were forward sold
from a spot price of $560 per ounce.

The average price achieved over the life of the mine should be
approximately $590 per ounce.

CHALLENGER LONG TERM

The intention is to develop the underground resource to reserve
status in an effort to have a seamless transition to an underground
mine following the completion of the open pit operation.

A conceptual underground study completed on inferred/indicated
resources indicates that an underground operation is likely to be
developed from these resources. The underground mine would produce
approximately 50,000 ounces per year at a head grade of 10 g/t Au
(Fig 6).

The resources from the base of the pit are summarised below:

Base of pit (1,065 RL) - 965 RL (100m) 445,000 tonnes a 9.45 g/t Au
(135,000 ounces)

965 RL - 865 RL (100 metres) 280,000 @ 13.27 g/t Au
(119,000 ounces)

865 RL - 765 RL (100 metres) 248,000 @ 9.72 g/t Au
(77,691)

The work required to complete the study has started and several high
grade intersections from within the zone 1,065 RL - 965 RL were
reported in the March quarterly report. The best of these results
include 6 metres @ 15.97 g/t Au, 2.4 metres @ 87.47 g/t Au, 6 metres
@ 42.5 g/t Au, 4 metres @ 13.7 g/t Au.

A detailed program of near surface exploration within the "Challenger
corridor" will be initiated with the aim of locating any gold
mineralisation within this corridor. The prospects of locating
additional, maybe smaller, deposits within this area are considerably
good considering the success that has been achieved adjacent to the
Challenger pit during sterilization work. Intersections on the south
east zone have included:

4 metres @ 82 g/t Au;
9 metres @ 12.9 g/t Au;
11 metres @ 10.1 g/t Au; and
8 metres @ 10.2 g/t Au.

This mineralisation will be incorporated into the main pit design and
be mined.

GAWLER CRATON

Considerable exploration remains to be done on the Gawler Craton,
particularly on the calcrete and RAB anomalies that remain to be
fully tested. The integration of gravity, magnetic and the
geochemical data, along with the application of different geological
models has also highlighted many new areas to target for gold
mineralisation similar to that at Challenger.

With the Challenger mill being on site it should provide exploration
companies with an added incentive to explore the Craton.

CONCLUSIONS

* The high grade nature of this style of deposit makes for an
attractive exploration and development target.

* Some twenty high priority exploration targets have been developed
giving encouragement for a successful second wave of exploration on
the Gawler Craton.

* The Challenger mine will produce 105,000 ounces at a cash cost of
A$278 per ounce from the Stage 1 open pit in 20 months.

* Conceptual underground study highlights an additional 2-4 years
production from underground at production costs of A$350 per ounce.

* The development of Challenger underpins our belief that it is
possible for a small company to generate wealth and growth for its
shareholders by the development of small high grade gold orebodies.

* With a professional team and some luck, a combined exploration,
development and acquisition model offers great potential for a
small company.

A copy of the full announcement, which includes the figures, is
available in PDF format on www.asx.com.au. Alternatively it is
available for purchase from ASX Customer Service on 1 300 300 279.

[crashkommt]

Die Produktion kann beginnen, viel Spass,

"cash operating cost of A$278 per ounce"

Das waehre doch gelacht, wenn dies den Kurs nicht nach oben bringen koennte.

MfG



DOMINION MINING LIMITED 2002-09-25 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
CHALLENGER GOLD PROJECT

Dominion Mining Limited (ASX: DOM) is on track to pour the first gold
bar from its 100% owned Challenger Gold Project in South Australia
early next month after commencing plant commissioning at the new
mine.

Open pit mining for the Stage 1 Challenger Project has been underway
since July with construction of final plant and infrastructure items
nearing completion.

Practical completion of the $17.8 million Stage 1 Project is now
scheduled for the first week of October, with the first gold pour
expected to occur on 9 October.

Dominion`s Managing Director, Mr Peter Alexander, said plant
commissioning had commenced this week, with the plant to commence
processing of ore drawn from the Run-of-Mine (ROM) stockpile of
25,000 tonnes grading 3.6 g/t.

"Commissioning is proceeding well and we expect to be able to
complete our ramp- up to full production during the first half of
October," Mr Alexander said. "it is pleasing to note that we will
successfully launch the Project on schedule and on budget."

The Stage 1 Challenger Project will produce 105,000 ounces of gold
over a 20-month operating period, at a cash operating cost of A$278
per ounce. This is expected to transition smoothly into a longer-term
underground operation producing around 50,000 ounces a year.

Mr Alexander reported that "a significant exploration drilling
program has commenced at Challenger. The program consists of a:

* 13 hole diamond drill program on the current 350,000 ounce
underground resource, to provide the detailed information for the
underground feasibility study due for completion in August 2003;

* deep extensional hole planned to give further data as to the long
term potential of the Challenger deposit, and

* 25,000 metre RAB drilling program involving mainly systematic
shallow drilling within a radius of around 5 kms of the Challenger
plant to identify potential shallow open pittable gold resources".

Dominion also today released its financial statements for the 12
months to 30 June 2002. The Company posted a loss of $3.7 million for
year. This result included expensing of exploration and evaluation
expenditure amounting to $3.3 million.

As at 30 June 2002 a total of $12.7 million of expenditure on the
Challenger Project has been capitalised to Dominion`s balance sheet
and will be written off over the life of the Project.

The company retained cash at the 30 June 2002 balance date of $8.8
million.

P Alexander
MANAGING DIRECTOR