Lachlan Star Limited
TSX : LSA
ASX : LSA

Lachlan Star Limited

October 29, 2014 09:05 ET

Lachlan Star Files Quarterly Report for the Period Ending 30 September 2014

PERTH, WESTERN AUSTRALIA--(Marketwired - Oct. 29, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Perth, Western Australia: Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (TSX:LSA)(ASX:LSA) is pleased to provide the following quarterly report for the period ending 30 September 2014.

HIGHLIGHTS

OPERATIONAL PERFORMANCE

  • Zero LTA during the quarter.
  • Zero environmental incidents.
  • Continuing productive relationship with neighbouring communities.
  • Stable mining performance consistent with performance levels of previous two quarters.
  • Total cost of tonnes stacked of US$15.18/tonne of ore and a 3% reduction over the previous quarter.
  • C1 Cash Cost of US$779 per ounce of gold produced representing a 21% reduction in C1 cash cost on the prior year corresponding period.

CORPORATE

  • On September 15th, the Company announced that its Chilean subsidiary, Compañía Minera Dayton, sold certain mining properties to Compañía Minera Carmen de Andacollo ("CDA").
  • On September 26th, the Company announced an updated Resource and Ore Reserve Statement for the Compañía Minera Dayton Gold Mine (CMD) in Chile.
  • Albeit post-quarter, on October 16th, the Company announced a non-brokered private placement to Hamilton Place Associates LLC for proceeds of US$1.14 million and the appointment of a new Chairman. Mr Scott Perry resigned from the board and Mr Peter Babin was appointed as the new Non-Executive Chairman of the Company.

To view the full announcement please click the link below:

http://www.lachlanstar.com.au/images/LSA_Quarterly_Report__3Q14_FINAL.pdf

ABN: 88 000 759 535

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