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2023-08-29_PERMIT FILE - M2023030
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2023-08-29_PERMIT FILE - M2023030
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Last modified
8/30/2023 8:31:46 PM
Creation date
8/30/2023 8:19:50 AM
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Template:
DRMS Permit Index
Permit No
M2023030
IBM Index Class Name
Permit File
Doc Date
8/29/2023
Doc Name
Citizen Complaint
From
Tonko Mining Company, Inc.
To
DRMS
Email Name
ERR
MAC
Media Type
D
Archive
No
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DATELINE <br /> FebruaryASX Release RESOURCES <br /> 23 1 <br /> Dateline progresses JV at Gold Links with London <br /> Mine Toll Treatment agreement <br /> DATELINE RESOURCES <br /> LIMITED Highlights <br /> • Toll treating terms agreed with owners of the London and Hock Hocking Mines <br /> ASX •• (London),both located in Colorado <br /> • Monthly payment of US$825,000 to be paid to Dateline's US subsidiary as treatment <br /> fee <br /> • • • London owners to pay US$700,000 to complete the upgrade of the Lucky Strike <br /> Share Price(22/2/23) $0.026 processing plant <br /> Shares on issue 565.18 million <br /> Market Cap $14.7 million • London contains —800,000 metric tonnes (t) of stockpiles that are planned to be <br /> upgraded using ore sorting <br /> • Ore sorting test results demonstrate over 350% improvement in grade and 81.2% <br /> MAJOR SHAREHOLDERS reduction in mass <br /> Mr.Mark Johnson AO 17.41% • Treating the London stockpiles will reduce pressure on underground mining at Gold <br /> Links in the short term. <br /> Southern Cross Exploration <br /> HSBC Custody Nominees 9.42% Dateline Resources limited(ASX: DTR)(Dateline or the Company)is pleased to announce <br /> Stephen Baghdad Baghdadi 4.78% that it has reached an agreement with US company, MW Sorter LLC (MW), to bring <br /> DIRECTORS together Dateline's Gold Links mine and Lucky Strike processing plant with MW's <br /> stockpiles at the London and Hock Hocking mines, located 160km from the plant. <br /> MANAGEMENT <br /> MW owns the London and Hock Hocking mine surface stockpiles of 800kt at 2g/t Au for <br /> Mark Johnson • <br /> Chairman 51,000oz Au. The surface stockpiles at the London mine were tested in 1985 by Behre <br /> Stephen Baghdadi Dolbear&Company,pre the introduction of the JORC code and the estimated grade is not <br /> Managing Director JORC compliant. <br /> Greg Hall The agreement with MW is to combine the Gold Links Mine, Lucky Strike processing plant <br /> Non-Executive Director <br /> and London and Hock Hocking Mine stockpiles into a new US entity,to be owned 50%by <br /> Tony Ferguson Dateline,40%by MW and 10%by a private Australian investor.As part of the transaction, <br /> Non-Executive Director MW and the Australian investor have injected US$440,000 into Dateline subsidiary, Fossil <br /> Bill Lannen Creek Mines LLC (FCM), and arranged a new US$5 million working capital facility'. <br /> Non-Executive Director Conditions imposed on the financing require that MW Sorter and Fossil Creek Mines <br /> John Smith operate at arm's length, so an interim toll-treating agreement has also been reached, <br /> Company Secretary which includes capital to be provided by MW to complete the upgrade and commissioning <br /> of the Lucky Strike Mill to achieve 250 tonnes per day(tpd)all-weather capacity. <br /> CONTACT <br /> John Smith A new US entity will be established and operate independently with representatives of <br /> Dateline and MW on the Board and management committees.The new entity will assess <br /> Postal Address:P.O.South Hurstville NSW 2221 the opportunity to recommence underground mining at Gold Links,with ore to be blended <br /> info@datelineresources.com.auwith London stockpiles to ensure that the plant can consistently operate at 250tpd. <br /> Dateline's Managing Director,Stephen Baghdadi,commented: <br /> "When we commenced the search for a joint venture partner for Gold Links, we sought a <br /> partner that had both financial capabilities as well as US operating experience. <br /> "By partnering with MW, we bring together two quality assets that have the potential to <br /> generate better returns than if developed independently. <br /> "Dateline shareholders were naturally disappointed with the suspension of mining at Gold <br /> Links, but the new joint venture will allow gold production to recommence, and the plant <br /> should operate at its full capacity, under a focussed management team." <br /> 'This amount is in addition to the US$5m being pursued by FCM and disclosed to the ASX on February 3,2023 <br />
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