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Eastern Goldfields seeks withdrawal of A$8.7M performance bonds request

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Eastern Goldfields seeks withdrawal of A$8.7M performance bonds request

Eastern GoldfieldsLtd. said April 11 that it expects Western Australia's Department ofMines and Petroleum to withdraw the request for approximately A$8.7 million in unconditionalperformance bonds.

The company said it has completed a capital raise of more thanA$25 million and its securities have been reinstated to trade on the ASX.

Responding to media speculation regarding the potential impositionof performance bonds upon company unit Carnegie Gold Pty. Ltd., Eastern Goldfieldssaid it has been in discussions with the DMP regarding the withdrawal of the request.

The company noted that it is in compliance with its levy paymentobligations under the Mining Rehabilitation Fund.