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18 Dec 2018

Mining Regulator Enforces Dust Controls at Woodvale Ponds

Earth Resources Regulation has directed Kralcopic Pty Ltd, a wholly owned subsidiary of GBM Gold, to take further action to control dust at its Woodvale Ponds mine site near Bendigo.

A Notice issued by the regulator requires the ponds to be covered with water so that they do not dry out and produce dust ahead of the peak summer period.

This action is necessary to protect public safety and the environment until the site is rehabilitated.

Earlier this year Earth Resources Regulation directed Kralcopic to engage an EPA-accredited auditor to deliver an environmental assessment at Woodvale Ponds, this included outlining the necessary ongoing dust controls at the site.

Earth Resources Regulation is also seeking assurances from the licensee on its financial situation after it recently alerted the ASX to issues over funding and trading of its shares was suspended.

GBM Gold Pty Ltd holds Mining Licences, in the name of Kralcopic Pty Ltd, at Woodvale and Kangaroo Flat. Mining Licence holders must be in a position to finance their operations and meet all regulatory obligations.

Bonds are in place to cover 100% of the independently-assessed rehabilitation liability for the two Bendigo mine sites. The current bonds, in the form of bank guarantees, for the Woodvale and Kangaroo Flat sites total $5.9 million.

Quotes attributable to Executive Director of Earth Resources Regulation Anthony Hurst

“Mine operators are required to fulfil their obligations to manage risks and protect local communities.”

“Earth Resources Regulation will step in to ensure safeguards are met.”

“We will continue to closely monitor the Woodvale Ponds site for compliance over the summer months.”

Media contact: Lewis Hill

Phone: (03) 8392 6735