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Additional Information
Market: TSX
Sector: Gold Mining
EPIC: CRK
Latest Price: 0.36  (-10.49% Descending)
52-week High: 0.85
52-week Low: 0.32
Market Cap: 144.71M
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Crocodile Gold
www.crocgold.com

Crocodile Gold is a Canadian company that has completed the acquisition of recent past producing gold assets in the Northern Territory of Australia. Crocodile Gold plans to produce over 100,000 ounces of gold in 2010 and over 200,000 ounces in 2011.

Full Crocodile Gold profile here
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Crocodile Gold takes another step towards target of 200,000 ounces per annum production by 2011

31st May 2010, 1:06 pm
Crocodile Gold takes another step towards target of 200,000 ounces per annum production by 2011

Toronto listed, Australia focused gold junior Crocodile Gold (TSX:CRK, OTCQX:CROCF) has declared commercial production at its Union Reefs mill in the Northern Territory of Australia.


The company also reiterated its planned 2010 production forecast of 100,000 ounces of gold. Just last week Crocodile Gold announced a bought deal financing to raise approximately CDN$20 million at a price of $1.30 per share. The financing is being lead by syndicate of underwriters, including Macquarie Bank, Cormark Securities and GMP Securities.


This morning the emerging gold producer confirmed that it had started excavation of a portal at its Cosmo underground mine ahead of schedule. The Cosmo mine, located in Australia’s Northern Territory, is due to enter production in the middle of 2011. Once in production, the mine is expected to not only lift total group production to 200,000 ounces per annum, but also lower group cash operating costs due to its higher grades.


"We have successfully commissioned the Union Reefs mill, brought three mines into production and continue to have encouraging exploration results from our ongoing drill program,” Crocodile Gold's Chief Operating Officer David Keough commented. Over the coming months we plan to continue development at the Cosmo and Tom's Gully underground mines and expect a steady flow of exploration results. We remain on track to produce 100,000 ounces of gold in 2010 increasing to 200,000 ounces in 2011."


Crocodile Gold announced its first gold pour at Union Reefs in December 2009.


Crocodile Gold has 3.09 million ounces of NI 43-101 compliant measured and indicated resources.

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