20 June, 2021
Job Prospects on gold dig
UP TO 300 new jobs are set to be created by a junior mining company, as it eyes the development of three new mines.
The Ruddygore, Ravenswood and Dittmer golds mines are located around the Queensland Gold belt, where the third is located near Proserpine.
Ballymore Resources is eyeing these three prospective mines for the Queensland gold belt with an initial public offering.
Ballymore Resources is focused on exploration of Northeast Queensland, which is known to have gold, copper and other base metal deposits.
Non-executive chairman Nick Jorss says the initial public offering (IPO) was managed by Morgans.
He said this is the process of a private company becoming public, where they sell their shares on the stock exchange.
The IPO for Ballymore Resources will finish late July to early August.
“We’re still going through that (regulatory) process, so we appointed Morgans as our broker and we’re running through the IPO process about getting listed,” Mr Jorss said.
He believed Queensland has missed out on some great opportunities, compared to states like Western Australia.
After the IPO process has finished, Mr Jorss said the exploration phase would begin, which could lead to 30 jobs being created across the company’s footprint.
Mr Jorss said that during this process information would be collected and analysed to determine what mineral deposits were at a location, along with determining the economic feasbility of their extraction.
Once exploration had finished, he said the three mines would then be able to open and offer 300 jobs each.
“There’s some fantastic deposits there (at the three mines), so we’re joining adjacent to a number of those,” he said.
“At Ravenswood, we have a 70 million ounce of gold province between Charters Towers and Ravenswood that it’s sitting in the middle of,” he said.
“There’s an awful lot of a large deposits that have been mined historically, but have not had a lot of work done since the 1990s.”
Mr Jorss said the three mines had extensive historic works.
“There’s an awful lot of old workings in all of those projects – they’re very large areas. They’ve got 508 km2 at Ruddygore, 308 km2at Ravenswood and 488 km2 at Dittmer,” Mr Jorss said.
“They’ve all had historic production on them over quite a large area. They got very large footprints, anomalies and targets?”
“What we’re trying to do here is discover the next bulk tonnage (of) gold, copper and other base metal deposits.”