BilboesHoldings

Welcome to Bilboes Gold Mines

Bilboes Holdings (Private) Limited is a gold focused mining and exploration company.  Bilboes own and operates four gold mines namely Isabella, Bubi, When and McCays 'existing mines' all in the Bubi Greenstone Belt of Zimbabwe. The mines were acquired from Anglo American Corporation Zimbabwe Limited (AMZIM) in 2003 together with most of AMZIM’s gold mineral rights in Zimbabwe, including the Sulphide Project at the mines and Gold Quarry project both at Prefeasibility Stage.

Since its inception in 1989, Bilboes has produced 234,000oz of gold from oxides through open pit mining and heap leach processing method from its existing mines.

The company holds a total of 11,000 hectares in mineral rights (claims) and an additional 198,000 hectares of exploration licence applications otherwise known as Exclusive Prospecting Orders (EPOs). A considerable amount of work has been carried out on the claims including exploration drilling and metallurgical test work which has confirmed the existence of a sizeable gold resource.

Bilboes’ near-term cash generating project involves treating oxide material at its existing mines by refurbishing the plants and heap leach facilities at a cost of US$8 million to produce around 12 koz/y of gold by Q1 14.

The longer term future of the operations lies with the sulphide resources that underlie the oxide resources. Based on historical work conducted by Anglo American and a recent US$3 million drilling programme, SRK has estimated a total JORC resource of 4 Moz of gold in sulphides at an average grade of 2.07 g/t. Bilboes plans to spend US$4.5 million on the project in 2013/14 on infill drilling, metallurgical and technical studies aimed at producing a definitive feasibility study.

Elsewhere, Bilboes has commenced a drilling programme at its Gold Quarry project to increase resources and will conduct metallurgical testing to take the project through to a definitive feasibility study within three years.

The company is well funded after successfully raising a total of US$17 million at the end of 2012.

Bilboes has potential to develop its mineral resource base to 6.5Moz from the oxides and underlying sulphides within its mining claims. The company’s EPOs offer upside potential and forms the base for the organic growth of the company.

 

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About Us

We are a gold focused mining and exploration company registered and incorporated in Zimbabwe.
 
We own and operate four gold mines namely Isabella, Bubi, When and McCays--all in the Bubi Greenstone Belt.

Contact Us

3 Cecil Rhodes Drive
Newlands
Harare
Zimbabwe
 
Phone: +263 4 788151-3
Fax: +263 4 7 788156