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IBERIAN RESOURCES PREPARES FOR PRODUCTION IN ARMENIA AND PORTUGAL
Australian Stock Exchange
August 7, 2006 Monday
Iberian Resources Ltd expects to produce first gold at its Lichkvaz
gold project in Armenia in the coming months, while a pre-feasibility
study on its Montemor gold project in Portugal supports the presence
of a robust gold project.
The Armenian project carries a JORC estimate of 8.86Mt at 3.78g/t Au,
23.9g/t Ag, 0.31 per cent Cu for approximately 1.4 million ounces
of gold equivalent. A scoping study is currently being carried out
to determine if gold production targets can be increased to 150,000
per annum.
Over 25 kilometres of underground development was completed by a
Soviet exploration team over 20 years ago, equating to a saving of
$US25 million ($A32.6 million) in development expenditure.
The company's Portuguese tenures cover 1,380sqm, or 1.5 per cent of
the country. The Montemor gold project pre-feasibility study forecast
400,000t at more than 4g/t gold per year for an initial four years
at 50,000 ounces per year at a cost of less than $US300 per ounce.
Between the Armenian and Portuguese projects, Iberian Resources'
attributable resource base exceeds 1.75 million ounces of contained
gold equivalent, a 480 per cent increase on the resources base since
the company listed on the ASX on November 17, 2004.
STOCK DASHBOARD: AUGUST 4, 2006
IBERIAN RESOURCES
Closing Price: 61.5c Price change from previous trading day:
+1.65% Relative Strength (6 months percentile rank): 22.4 Market
capitalisation: $43.91 million Turnover volume: 145,116 Volume Index
(1 is average): 0.9 Turnover value: $89,103 Turnover period: 424 days
Value of $1,000 invested 1 year ago: $1,577 Source: www.BuySellTips.com
Australian Stock Exchange
August 7, 2006 Monday
Iberian Resources Ltd expects to produce first gold at its Lichkvaz
gold project in Armenia in the coming months, while a pre-feasibility
study on its Montemor gold project in Portugal supports the presence
of a robust gold project.
The Armenian project carries a JORC estimate of 8.86Mt at 3.78g/t Au,
23.9g/t Ag, 0.31 per cent Cu for approximately 1.4 million ounces
of gold equivalent. A scoping study is currently being carried out
to determine if gold production targets can be increased to 150,000
per annum.
Over 25 kilometres of underground development was completed by a
Soviet exploration team over 20 years ago, equating to a saving of
$US25 million ($A32.6 million) in development expenditure.
The company's Portuguese tenures cover 1,380sqm, or 1.5 per cent of
the country. The Montemor gold project pre-feasibility study forecast
400,000t at more than 4g/t gold per year for an initial four years
at 50,000 ounces per year at a cost of less than $US300 per ounce.
Between the Armenian and Portuguese projects, Iberian Resources'
attributable resource base exceeds 1.75 million ounces of contained
gold equivalent, a 480 per cent increase on the resources base since
the company listed on the ASX on November 17, 2004.
STOCK DASHBOARD: AUGUST 4, 2006
IBERIAN RESOURCES
Closing Price: 61.5c Price change from previous trading day:
+1.65% Relative Strength (6 months percentile rank): 22.4 Market
capitalisation: $43.91 million Turnover volume: 145,116 Volume Index
(1 is average): 0.9 Turnover value: $89,103 Turnover period: 424 days
Value of $1,000 invested 1 year ago: $1,577 Source: www.BuySellTips.com