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Olympus Pacific Minerals

Besra, formerly known as Olympus Pacific Minera is a gold producer focused on Southeast Asia. With a solid history in Vietnam, where the company has brought two gold mines into production, we are now moving ahead with the development of the Bau Gold Field in East Malaysia.

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Olympus Pacific is an established gold producer with an increasing production profile. A feasibility study is underway at Bau, the 'jewel in the Olympus Pacific crown' assessing the initial development of two (of eight) sectors within the Bau Gold Trend.  Once in full operation, the company envisages group production of ~200,000ozpa Au compared to the current 65,000ozpa operations in Vietnam.  Recent drilling at Jugan Hill highlights the prospectivity of the Bau region which should lead to meaningful resource upgrades and the potential for increased scale and longevity of operations.

Olympus Pacific Minerals (ASX, TSX: OYM) is an established gold producer with two operating gold mines located in Vietnam. The company produced 42,868oz of gold in 2011, at a cash cost of US$ 715/oz, and is on track to increase production to 65,000oz in 2012 at reduced cash costs.

With the Vietnam operations now running smoothly, the focus is shifting to the Bau goldfield in East Malaysia. Bau is a ‘company maker’ and currently hosts a total gold resource in excess of 3Moz with significant further exploration potential. Recent drilling at Jugan (one of eight central Bau Trend sectors) has intersected additional large widths of ore grade mineralisation yet to be included in the current resource. Highlights include 52m @ 4.64g/t Au from 3m below surface.

A feasibility study is currently underway based on the initial development of the Jugan Hill and Young’s Hill (Bekajang) deposits with the remaining six sectors phased into production in due course. The company envisage a 3Mtpa plant, employing either an Albion or pressure oxidation circuit to treat the refractory component of the ore, to be commissioned in 2014. Once in full production, Olympus Pacific have targeted 100-150,000ozpa of gold from Bau, which when coupled with the Vietnam operations, would bring total gold production to +200,000ozpa.

More details about Olympus Pacific Minerals

Official website: http://www.besra.com/

ASX on Hotcooper: http://hotcopper.com.au/asx/OYM

Markets: Gold