Kingsrose Mining Ltd ("Kingsrose" ASX. KRM) was listed on the Australian Stock Exchange in December 2007 with the objective of becoming a significant gold producer based on its in-house expertise in both underground mining of high grade veins and precious metal exploration.

Kingsrose owns 85% of Indonesian company PT Natarang Mining which holds a fourth generation contract of work with the Indonesian government covering 10,540 hectares surrounding the Way Linggo mine area. The remaining 15% interest is held by an Indonesian partner.

Project development began in July 2009, following Kingsrose’s successful capital raising.  The plant commenced commissioning in August 2010 with the first official pour of gold/silver on 13th of that month.

45,000 ounces of gold per annum is budgeted at a production cash cost of US$150/oz after taking into account silver by-product credits and smelting and royalty costs.

Kingsrose’s second project, the SARINC – Zinc/lead Tailings Retreatment Project, is located in Sardinia, Italy.  The deposits identified thus far contain in excess of 90 million tonnes of material with overall average target grades of 1.7 – 2.5% zinc and 0.4 – 0.6% lead with some deposits grading up to 10% zinc. It should be noted that these figures are conceptual in nature as work to define a mineral resource is not yet complete.  

Work is continuing on preparation of a JORC compliant resource model.  Whilst it is too early to release the results from the 4,900 metre drilling campaign, it is possible to comment that they are encouraging and warrant the Company to continue with its evaluation of the Project.  It is anticipated that a JORC compliant Resource Statement will be finalized by year end, subject to further a small amount of technical field work being completed.