RSS UpdatesCompany Information for Kentor Gold Ltd
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 ASX; KGL
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Company Statement
Kentor Gold Ltd, an Australian publicly-listed company, is a diversified international explorer with gold, geothermal and base metals exploration assets in the Kyrgyz Republic in Central Asia.
The Company’s strategy is to acquire advanced projects which have existing resources that can rapidly be moved into development, construction and operation.
Through their experienced board and Kyrgyz-based, Russian speaking management team, Kentor Gold has developed a strong relationship with the Kyrgyz Government and have secured access to the vast store of technical data from Soviet exploration programs.
Kentor Gold is currently exploring for gold, geothermal and base metals in the Kyrgyz Republic and seeking opportunities to acquire advanced projects through-out Central Asia. The Company’s geothermal exploration program is being conducted in partnership with geothermal energy exploration pioneers, Panax Geothermal Ltd, headed by Dr Bertus de Graaf.
Current Operations
SUCCESSFUL GOLD EXPLORER IN KYRGYZ REPUBLIC
New high grade gold Resource provides base for potential initial mine development
- First Inferred Resource estimate in December 2008 - 160,000 tonnes @ 6.76 g/t gold (35,500 oz)
- Initial mine development at Savoyardy under study
- Potential cash flow to fund further exploration
- High quality exploration targets
- Access to Soviet era geological database
- Well connected, established, Russian speaking management in Kyrgyz Republic
- Geothermal energy source aimed at supplying local and wider central Asian markets
Kentor Gold Limited is an Australian-based company exploring for gold in the Kyrgyz Republic (Kyrgyzstan). A recently estimated JORC gold Resource provides the basis for an initial mining operation to generate cash flow to sustain exploration and development in gold, geothermal energy and base metals.
Kentor Gold aims to create shareholder wealth by increasing gold Resources through exploration and acquisition, developing and operating gold mines, building base metal Resources and proving up and developing a geothermal energy project.
The company's immediate focus is on the Kyrgyz Republic where its high potential current assets are located. However, gold and base metals opportunities are being considered in neighbouring central Asian countries.
The Savoyardy (Kyrgyz Republic) project, where a gold Resource has been established, presents an opportunity for an initial small mine development to provide cash flow to fund further exploration, and is under study.
Kentor's Kyrgyz Republic advantage
Kentor was formed in 1998 (ASX listed in 2005) to explore for gold in the Kyrgyz Republic where it has now expanded to include geothermal energy and base metals. The company has an established presence in the country, with the Kentor management team, led by Australian Hugh McKinnon, based permanently in the capital, Bishkek. Its members are fluent in Russian, have developed a strong relationship with the Kyrgyz Geophysical Expedition and government, and have access to the complete Soviet geological database for the Kyrgyz Republic.
Savoyardy Gold Project (Kentor earning 70%)
In January 2009, Kentor announced a high grade 35,500 oz JORC Inferred Resource at Savoyardy
- 160,000 tonnes @ 6.76 grams per tonne gold using a 3 g/t cut off grade. Kentor is earning a 70% interest in Savoyardy from Manas Resources Limited by spending US$6 million by March 2012.
- Savoyardy is on strike with Majestic Gold Exploration's Sawayeardun Project (a 1.5M oz gold Resource) across the border in China. The initial Resource is at the Rudny Prospect and resulted from an intensive 4500 metre drilling program in 2008 from both the surface and underground.
However, multiple structures have been identified at Savoyardy, with 10 other known gold occurrences contained within the 270 km2 licence.
An adit with extensive underground drives and cross-cuts, developed during the 1970's, provide invaluable access not only for drilling and close sampling, but also for mining the initial orebody.
In 2009, Kentor plans to
- Study the viability of developing the new Resource to provide early cash flow
- Extend exploration at Rudny and in particular the additional mineralised structures identified east of Rudny
- Explore other prospective gold occurrences along the 12km strike within the Savoyardy tenement.
Geothermal Energy (Kentor 80%, Panax Geothermal earning 51%)
Soviet era data and recent field work confirm the Kyrgyz Republic as having the world's most favourable geothermal energy potential. Kentor is exploring in seven tenements, targeting hot fractured granites with temperatures exceeding 2500 C. Other promising areas in Tajikistan and Kazakhstan have been identified for follow up work. Geothermal energy pioneer and Managing Director of Panax Geothermal Limited, Dr Bertus de Graaf is heading a Kentor/Panax alliance. There is a large potential energy market in central Asia, neighbouring China and Pakistan and Afghanistan.
The Kyrgyz Republic's capital city, Bishkek, is surrounded by thermal springs and wells and provides a potential initial market.
Akbel-Bashkol Gold-Uranium Projects (Kentor 80%)
Akbel and Bashkol lie in the highly prospective Kumtor Fault Zone which contains the multi-million ounce Kumtor gold deposit. Gold anomalies are being explored at Akbel and gold and uranium anomalies at Bashkol.
Kurgan gold, lead-zinc, copper and silver Project (Kentor 80%)
Initial exploration (soil sampling and trenching) in 2008 at a gold anomaly produced best results of 3 g/t gold over 3 metres and 2 g/t over 3 metres. The work will be extended in 2009 to define the mineralised zone in preparation for drilling.
Yangydavan lead-silver Project (Kentor 80%)
High grade occurrences of lead and silver with copper were reported by Soviet explorers at Yangydavan. The primary target in 2008 was the Jilsu prospect; results of a program of soil sampling, reconnaissance traverses, ground magnetics and other field work are being interpreted.
Geographical Spread
Kyrgyz Republic
Board of Directors and Key Management
| Board of Directors: |
| John Barr AM, MAICD, Chairman, Non-Executive |
| John Barr has had a long involvement with the Australian minerals and metals industry having been Managing Director of Metallgesellschaft’s Australian subsidiary since the company’s inception in 1974 until his retirement in 1994. He is a Director of Iluka Resources Limited and a former Director of Acacia Resources Ltd, Oxiana Limited, and Transurban City Link Ltd. In August 2005 he retired as Chairman of Utilities of Australia Pty Ltd, a major unlisted infrastructure investment fund. |
| Simon Milroy, Managing Director |
| Simon Milroy is a mining engineer with twenty years experience across a diverse range of metals. He has spent the last seven years working in South East Asia on mining development projects. His most recent experience has been with Kingsgate in Thailand and with Pan Australian Resources in Laos. Simon is a member of the Australian Institute of Mining and Metallurgy. |
| Hugh McKinnon B.Eng. (Mining), Executive Director, Country Manager and General Director – CJSC Kentor |
| Hugh McKinnon has been involved in the mining industry in Australia, Africa, and Asia for 30 years in activities ranging from exploration ventures to mine production. Since early 1996 he has worked on mining and exploration projects across Central Asia from Tajikistan to Mongolia, with a particular interest in the Kyrgyz Republic. Hugh speaks competent Russian. |
| Andrew Daley BSc (Hons) (Mining), Director, Non-executive |
| Andrew Daley is a mining engineer and resources finance executive. Andrew spent several years working on mining projects in Africa before relocating to Australia as Senior Engineer with Fluor Australia in 1981. Since then he has had a long career in international investment banking and held senior positions with NAB, Barclays, and Chase Manhattan. He is a Chartered Engineer, a former Director of Oxiana Limited, a Director of Pan Australian Resources Limited, Dragon Mining NL, Gladstone Pacific Nickel Ltd (listed on AIM), a Member of IOM3 and a Fellow of the Australasian Institute of Mining and Metallurgy. |
| Key Management: |
| Craig Irvine, General Manager - Exploration: |
| Kylie Anderson, Chief Financial Officer and Company Secretary |
| Orozbai Tohtonazarov, General Director - CJSC Kentor |
Company AddressLevel 36
|
Capital95 million shares |
Annual General MeetingMay | Year End31 December |
Related News
14/01/08 - Kentor Gold Could Hold A Trump Card At Its Savoyardy Project in KyrgyzstanMost Recent Statement
31/07/09 - Notice of General Meeting/Proxy Form31/07/09 - Quarterly Activities and Cashflow Report
27/07/09 - ld Recovery of 95% Achieved from Savoyardy Concentrate
16/07/09 - Ore Reserve for Andash Gold-Copper Project
14/07/09 - Reinstatement to Official Quotation
14/07/09 - Successful Raising