By Paul Garvey
Millionaire prospector Mark Creasy has struck gold again, identifying what his company says is one of the world’s largest and highest-grade undeveloped gold deposits.
Mr Creasy is Australia’s most famous prospector and a man who has built a multi-hundred-million-dollar fortune on the back of a number of major discoveries.
With fellow stake holders, he will move to float his privately held White Rivers Exploration next year following success in proving up a massive gold deposit in South Africa.
White Rivers and its joint venture partner Harmony Gold have identified a resource of 11.5 million ounces of gold at a grade of 8.89 grams of gold per tonne of ore.
The deposit is expected to support a mine life of more than 30 years, with the mine to leverage off the existing infrastructure already in place at Harmony’s neighbouring Target mine.
The company will pursue a dual listing on the London and Johannesburg stock exchanges, with the listing to provide a definitive valuation for Mr Creasy’s controlling stake.