Golden Rim Resources (GMR)

Shares / Stock Code

GMR

Stock Exchange / Sharemarket

Australian Securities Exchange
Golden Rim Resources (GMR), formerly Alcaston Mining, is an exploration company, with current projects in Australia, Fiji, Vanuatu and Canada. Its projects include the North Monger gold project in Western Australia and the Leopol Downs diamond project. In Canada, Alcaston is carrying out gold mineralisation at several sites. The company currently moving its operations in Tuvatu, Fiji, from that of a gold explorer to that of a gold producer. The Company has three gold projects in Mali – Sepola, Sanso and Farada. All three projects are proving to be exciting. They are strategically located and a defined JORC Inferred Resource of 162,000 oz of gold exists at the Sepola Project. Presently, the Company is concentrating its efforts on expanding this gold resource at Sepola and an intensive drilling program is underway.The directors believe the Sepola Project has the potential to produce a major gold deposit. Golden Rim is also actively seeking other quality gold projects in the region. Golden Rim is also a 35% shareholder in Royal Falcon Mining LLC (Royal Falcon). Royal Falcon is an alliance company, registered in Abu Dhabi, United Arab Emirates. PAL Technology Services LLC, a member of the Royal Group in Abu Dhabi, holds the remaining 65% equity interest. Royal Falcon was specifically formed to acquire and develop major minerals projects. Golden Rim is the Manager of Royal Falcon. In April 2009, Golden Rim announced that Royal Falcon had signed the Bergslagen Joint Venture. The Bergslagen Joint Venture includes two significant poly-metallic projects (Falun and Bersbo) located in the Bergslagen district in central Sweden. Drilling is underway at Falun and results to date suggest there is excellent potential for connsiderable volumes of gold and copper mineralisation at viable grades to be defined. Golden Rim, on behalf of Royal Falcon, continues to systematically search for projects that are of quality and of significant size. Golden Rim's board of directors and senior management team are well known in the global mining industry and have a background of success in creating company value and in the discovery and mining of significant mineral deposits. The company has initiated its own mapping and rock chip sampling programme to generate its own drill targets. The company is continuing to look for new opportunities in both Australia and overseas, including Asia and South America. GMR faces competition from both within Australia and overseas. Its competitors for exploration projects include AngloGold Ashanti Limited. Markets for these minerals are global.

Golden Rim Resources

The company was incorporated on 24 February 1987. It was listed on the ASX on 13 August 1987. In the FY04-05, the company decided to divest some of its Australian gold properties, in favour of concentrating on its operations in Fiji and Vanuatu. In late December 2006, the company changed its name from Alcaston Mining to Golden Rim Resources (GMR).

Golden Rim Resources (GMR) Products and Services

  • Exploration for gold & other minerals

Golden Rim Resources (GMR) Locations and Subsidiaries

Golden Rim Resources Head Office Level 2, 10 Outram Street, WEST PERTH, WA 6005 Phone: (08) 9481 5758 Fax: (08) 9481 5759

Golden Rim Resources (GMR) Share Price

Submitted by ASX Listed Company on 27 March, 2010 - 05:23

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