The 43rd Sydney Mining Club

and NM Rothschild & Sons

June 7th at 12.30 p.m.

Presents

 

Mike Diemar’s remarkable Chatree Thai gold discovery (will pour in November)

 

The Power of One!

It is hard to credit Kingsgate Consolidated’s discovery of 1.2 million ounces in Thailand to anyone but its managing director Mike Diemar.  Lying beneath the corn fields 280km north of steamy Bangkok lies the Chatree deposit, now the site of a half-completed 143,000 Oz a year CIL mine with 280 people rushing about. Its fully debt financed and the first gold pour is in November.  A new US$35m low-cost gold producer is an important milestone for this most sober of the Tiger Nations.

 

Perhaps more amazing than the fact that one man’s 13 years of dogged lock-jaw focus can lead to the finding and realising of at least $600m of contained gold, are a string of exploration lessons that would out-trump and confound many  “If you believe in a project fight for it. Be single minded. Patience is not a virtue, its a survival mechanism.  Speed kills. The shortest distance between two points is not a straight line.  Use trusted national staff in all dealings with nationals.  Budget size often has an inverse relationship to success as time kills the enthusiasm of backers”... some sackable philosophies at Major Mining Corp Ltd.  Mike Diemar worked around the fact that 2/3 of the time is the wrong time to raise money to look for gold by using minuscule budgets and a local team.  Through booms, Busang and some very hard times, the project moved steadily forward with hand-dug trenches and inching bureaucratic process.  Drill hole No1 was not until 1995. In this unlikely success in a foreign land there was no geological revelation but a very perceptive reading of what was possible and a preparedness to accept one’s own advice and stick to it. Thailand it seems could be emerging as the quiet eye in the Asian cyclone of minerals policy.  If you’ve ever owned shares in an exploration company, backed one or wondered what magic it takes to succeed in exploration, then Mike Diemar’s formula is striking. Not to be missed!

 

AusIMM students $10, AusIMM, AIG & SMEDG members $30, non-members $35. NOTE – LATE BOOKINGS $10 EXTRA!!!   The Tattersalls Club is at 181 Elizabeth St.  Ties and Jackets no longer required. 

Thank you for supporting your Sydney Mining Club and for your interest in the current affairs and issues that drive our industry.

The Sydney Mining Club

 

 

Fax bookings to 02 9416 2583

E-mail to: ausimm@lec.net.au

 

(Other inquires call 02 9416 0666 and ask for Sharon Johnson)

 

 

 

 

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                ¨  AusIMM, SMEDG, AIG Member $30 / ¨  Non Member $35 / ¨  AusIMM Student $10

 

RSVP BY 5pm, Monday 4th June

Note – late bookings $10 extra!!

 

 

 

The Tattersalls Club is at 181 Elizabeth Street Sydney adjoining the Sheraton on the Park.

 

There has been a relaxation of dress rules at the Tattersalls and ties and jackets are no longer required (but do wear the rest).


Other Talks including those by Geoffrey Blainey, Ray Evans, Dick Zandee and Paul Gilding.
and Trevor Sykes.

SMEDG