LKA acquires and develops properties in politically stable jurisdictions capable of yielding high profit margins even during volatile economic conditions. The Company looks for projects in advanced stages of exploration that can generate a cash flow within a relatively short period of time.
We've produced far more ounces than tons.
The Company's Golden Wonder mine has a production history of 140,039 ounces of gold at an astonishing average ore grade of 12.06 ounces (358 grams) gold per ton and an average production cost of less than $150 per ounce, LKA has proven that, with the right properties and management team, enormous capital investment and muti-decades of development are not necessarily required to achieve profitable gold production.
Exploration at LKA's Golden Wonder mine continues to yield exceptional ore grades and project profitability as the Company attempts to re-establish high-grade reserves and return to commercial production. LKA believes its exploration strategy is highly effective in minimizing investor risk while providing an unparalleled opportunity.(What expert geologists have to say)
Q-1 2013- Golden Wonder exploration ore shipments up 90% over
year-ago period. Q-1 2013- Completes donation of historic Ute Ulay mill & townsite to
Hinsdale County. Q-1 2013 - Completes restructuring - name change & elimination of
all long-term debt. Q-4 2012 - Second Consecutive Year of Exploration Profit. Up 147% Q-4 2012 - 2012 Gold sales from exploration up 100% over previous year.
Q-3 2012- Net gold sales from exploration program hit $3.2 million. Q-3 2012 - Converts $1.5 million of debt to equity. All long-term financial
Q-2 2012- Gold ore sales increase 337% over year-ago period as LKA
records its second profitable quarter since exploration program
began. Onlyprofitable gold exploration company in mining
Q-1 2012- First quarter ore deliveries (bulk samples from exploration) up
183% over year-ago period. Grade continues to rise (2.48 oz.
per ton) as ore sales continue to cover expense of Golden
Wonder exploration program. Underground Operations - Investor Videos
Q-4 2011 - Gold values from exploration exceed $1.27 million for the year and produce a profit at the "project level"
for 2011. Q-4 2011 - Signs agreement Premier Gold Mines (PG:TSX) to expand Golden Wonder exploration across a much
wider area beyond the current workings.
Q-3 2011 - Gold ore sales from exploration result in the Company's first profitable quarter. Q-1 2010 - A bulk sample of 128.6 tons was shipped to the Echo Bay-Kinross milling facility in Republic, WA. The
average ore grade was 2.04 ounces ( 57.83 grams) gold per ton. Q-3 2009 - Establishes the existence of high-grade gold bearing structures 100' beyond previous production zone.
Over forty vein samples in this area yielded average assays of 16.92 ounces gold per ton. Q-2 2009 - First bulk ore sample of 88 dry weight tons shipped to Teck-Cominco's smelter in Trail, B.C.
This first bulk sample averaged 3.85 ounces (109 grams) per ton. GW Ore ShipmentsLKA Issuer Presentation - July 2013