Annual Report EL 23655 Lander Reynolds Range Project 12 June 2013 to 11 June 2014

Abstract

As ABM focused on bringing the high-grade Old Pirate Gold Deposit at its Bonanza project into production through staged development, which commenced in June 2013 with trial mining and processing, it started to implement its divestment policy. In November 2013, as part of ABM's divestment policy and its commitment to regional exploration programs, ABM reached an agreement with Clancy Exploration Ltd (Clancy) whereby Clancy will have the option to acquire 100 percent of ABM's interests in the North Arunta Regional Projects, which EL 23655 forms a part of. In March 2014 ABM conducted a reconnaissance trip to introduce Clancy representatives to the ground in general as well as to the Trout Prospects plus the Mount Stafford and Coniston Tin Workings in particular. At the end of the reporting period the negotiations between ABM and Clancy were still ongoing awaiting finalisation.