Crescent Gold (CRE)

Shares / Stock Code

CRE

Stock Exchange / Sharemarket

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Crescent Gold (CRE) is a mineral exploration and development company based in Perth, Western Australia with a primary focus on gold development and mining. The Company is actively advancing its flagship project, the Laverton Gold Project - located 250km northeast of Kalgoorlie in Western Australia. The Company’s wholly owned subsidiaries include Uranium West Holdings Ltd, Uranium West Ltd and Laverton Nickel Pty Ltd.

CRE listed on the Australian Stock Exchange on 29 July 1999. The company's projects in the Chinese provinces of Xinjiang and Inner Mongolia are prospective for world class gold deposits. Major Customers & Competitors: CRE's major competitors include companies with mining interests in China such as Apex Minerals (AXM). Its customers include wholesalers and the retail sector both in Australia and overseas.

In July 2008, Crescent temporarily suspended operations at Laverton due to rising costs, ore crushing issues and exposure from supply of a single ore source. The suspension allowed Crescent to take a step back and to implement a broader development strategy to advance a number of the Company’s deposits and identify a more efficient way of processing the ore.

In light of the above, Crescent entered into a collaborative Ore Purchase Agreement with Barrick Gold Corporation (Barrick) to process its ore through their nearby Granny Smith Mill in Laverton. This agreement will result in improved economics (unit costs) and operating synergies for both companies. Crescent has commenced mining and haulage operations in August 2009, with the first batch of ore to be processed at Granny Smith in the fourth quarter. Crescent is also actively seeking to expand its gold portfolio in Laverton as well as investigating broader opportunities.

On other Company interests, through its 100% owned subsidiary, Crescent Gold continues to expand and advance its uranium exploration portfolio through Joint Venture opportunities which include projects in South Australia, Queensland and the Northern Territory.