Catalpa Resources Limited (previously Westonia Mines Limited) (Lion 51.3%)
Summary
| Lion shareholding: | 265.8 million |
| Total investment by Lion: | $16.8 million |
| Date of initial investment: | October 2000 |
| ASX Code: | CAH |
| Area of activity: | Australia – Gold |
| Website: | www.catalparesources.com.au |
Company
Catalpa Resources Limited (formerly Westonia Mines Limited), a listed Australian company, is evaluating the redevelopment of the Westonia gold mine, located 300 kilometres east of Perth. In July 2006 a feasibility study was completed which indicated a project with a JORC Resource estimate of 1.1 million oz at 1.34 g/t, and an open pit with 75,000 to 80,000 oz of annual production at approximately $555 per oz cash costs and $65 million in capital costs. The company is assessing financing alternatives while pursuing initiatives to improve project economies.