Martha Mine - An Update

Martha Mine is an open pit gold-silver mine, located within the township of Waihi, 150km southeast of Auckland and is operated as a joint venture between Normandy Mining Ltd. 67 %) as Manager and Otter Gold Mines Ltd. (33%). The deposit was historically mined, by underground methods from 1888 to 1952, producing 5.5 moz of gold and 30 moz of silver, from 11 mt of ore. The current operation began in 1988, producing, to June 1999 - 867,245 oz of gold and 5.5 moz of silver from 9.5 mt of ore. The licensed reserves were due to be mined out by late 2000. Consents were granted in December 1998 to allow the expansion of the operation through to 2007 accessing an additional 7.5 mt of ore at 3.4 gpt Au and 26.0 gpt Ag for 800,000 oz of gold and 6.4 moz of silver. The key elements of the expansion are: 1. Pit enlargement 2. Upgraded crushing and material handling facilities 3. Construction of a second tailings storage facility 4. Upgraded water treatment capacity 5. Increased operating capacity This paper presents an update of expansion activities to date.