EganStreet secures key approval to develop new high-grade Australian gold mine

By Meagan Evans. Published at Oct 3, 2018, in Small Caps

Emerging Western Australian gold company, EganStreet Resources Limited (ASX:EGA) today announced that it has secured a key approval from the WA Government — another important step towards development of its flagship 100%-owned Rothsay Gold Project.

The WA Department of Mines, Industry Regulation and Safety (DMIRS) approved the Project Management Plan (PMP) for the Rothsay Project, which is the first of three key Government approvals required to allow construction activities and operations at Rothsay to commence.

EGA has also submitted its Mining Proposal to the DMIRS. Once the Mining Proposal approval is received, the company will be able to start key works at Rothsay including construction of the camp and other key infrastructure including site offices and power station.

The Works Approval and License Application documentation is in its final stages of preparation and will be submitted to the Department of Water and Environmental Regulation (DWER) shortly.

The Rothsay Gold Project, located 300 kilometres north-east of Perth in WA’s Midwest region, hosts high-grade Mineral Resources of 401koz at an average grade of 8.8g/t gold (Indicated 820kt at 9.3g/t Au and Inferred 600kt at 8.0g/t Au) and a production target of 2.1Mt mined and 1.4Mt processed at 6.9g/t gold for 250koz of gold produced.

The recently completed Definitive Feasibility Study (DFS) on Rothsay found that the project would be a low-cost, high-margin producer capable of delivering strong financial returns for shareholders.

The DFS is based on gold production of 250,000oz over an initial 6.5-year mine life, with increased average annual production of 53,000ozpa over the first four years. Forecast life of mine cash costs C1 are A$941/oz and all-in sustaining costs (AISC) are A$1,083/oz. First gold from the Project is targeted for the fourth quarter of 2019

EganStreet Managing Director Marc Ducler said the Project Management Plan approval was a pivotal step in the EGA’s strategy to become an Australian gold producer. “We have already submitted our Mining Proposal and we are well advanced in project funding discussions,” Mr Ducler said.

“At the same time, we are continuing our exploration programme with the aim of growing our Resource, Reserve and mine life,” he added.

Over the longer term, EganStreet’s plan to use the cash-flow generated by an initial mining operation at Rothsay to target extensions of the main deposit and explore the surrounding tenements, which include a 14 kilometre strike length of highly prospective and virtually unexplored stratigraphy.

It should be noted that EGA is an early stage play and anything can happen, so seek professional financial advice if considering this stock for your portfolio.

Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!