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August 2012

30/08 - Finances keep new gold mine on hold

Cautious investors could stall a major underground gold mine east of Canberra, which will cost more than $77 million to build.

Almost a year after state and federal agencies approved Cortona Resources' gold mine at Majors Creek near Braidwood, the Perth company is yet to reveal a starting date.

In the company's 2012 annual report, chairman Clive Jones said financial markets' low appetite for risk would continue to influence how and when the mine would be funded.

Tony Page


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