Luiri Gold Limited. Cheap gold exposure with first production scheduled for mid 2014

Breakaway Research - 06-May-2013 The current management team gained control of the Luiri Hill Gold Project in early 2011, following the Zambian Government cancelling the previous operator’s licence due to non-performance. In order to satisfy the Government, Luiri Gold has warranted that it will achieve 3 key milestones by November 2013. These are completion of a development plan, arranging project finance and commencing site works. Against a backdrop of challenging markets for project finance, Luiri Gold is implementing a low risk strategy of commencing gold production at a small scale of 10,000 to 13,000oz/pa. This should limit the initial capital cost to a relatively modest US$20 million.