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Tuesday, 17th March 2009 (1573 views)

Leyshon Resources has published a half-yearly report for its operations, which shows that it has significantly reduced its losses from the previous year.

The Australian company has cut its outgoings and deferred some work on its Zheng Guang gold project in Heilongjiang in north-east China.

Leyshon Resources reported that its bank balance currently stands at A$5.7 million (£2.7 million) and a total of 6,840m of exploratory drilling was conducted at Zheng Guang over the half year to December 2008.

The Zheng Guang gold project is a joint venture between Leyshon and its partner Qiqiha'er Brigade, one of China's largest geological bureaus and a 35,000m exploration programme commenced in May 2008.

Leyshon Resources owns the Mount Leyshon gold mine in Queensland and a series of mining and exploration interests in Australia and China, including the Zheng Guang project in Heilongjiang.

 

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