Birimian Gold Limited: Half Yearly Report and Accounts

17:02 AEST Mar 15, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.

Perth, Australia (ABN Newswire) - The Directors of Birimian Gold Limited (ASX:BGS) submit their report for the half-year ended 31 December 2011.


Directors

The names of the Company's directors in office during the half-year and until the date of this report are set out below. Directors were in office for this entire period unless otherwise stated.

Mr. Hugh Bresser - Non Executive Chairman
Mr. Kevin Joyce - Managing Director
Mr. Wayne Ryder - Finance Director
Mr. Warren Staude - Non Executive Director
Mr. Michael Haynes - Non Executive Director
Mr. Garry Plowright - Non Executive Director (resigned 19 August 2011)


Results of Operations

The Group's net loss after taxation attributable to the members of Birimian Gold Limited for the half-year ended 31 December 2011 was $936,632 (2010: $375,762)

Review of Operations

During the past six months the Company changed its name to Birimian Gold Limited (formerly Eagle Eye Metals Limited).

During the period Birimian Gold Limited completed its maiden reverse circulation (RC) drilling program at the Dankassa Gold Project in Mali. This phase one programme comprised 24 holes for a total of 2,400 metres of drilling. A second phase drilling programme was initiated completing 1,638 metres of RC drilling, 8,948 metres of aircore drilling and approximately 6,000 metres of auger drilling. The Company has delineated a new, 12km long, high tenor gold zone at the Dankassa Gold Project. Drilling is scheduled to commence in the near term.

Birimian Gold Limited also undertook an extensive work program to rapidly evaluate the potential of the Korindji Gold Project. The programme involved detailed geological mapping, soil sampling and rock chip sampling over previously defined mineralised trends. Analytical results are pending.

In Liberia, the first phase of field reconnaissance soil sampling program was undertaken at the Basawa Gold Project during the period, analytical results are expected shortly.


Auditor's Declaration

Section 307C of the Corporations Act 2001 requires our auditors, Grant Thornton, to provide the directors of the Company with an Independence Declaration in relation to the review of the half-year financial report.

This Independence Declaration is set out on page 4 and forms part of this directors' report for the half-year ended 31 December 2011.

To view the complete Birimian Gold Half Year Financial Report including all data, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BGS-582270.pdf


About Birimian Gold Limited:

Birimian Gold Limited (ASX:BGS) (previously Eagle Eye Metals Limited) holds substantial interests in several highly prospective gold projects in West Africa; a gold rich region which has produced in excess of 250 million ounces of gold from large, low cost mines. Birimian is currently exploring projects in Mali and Liberia, and continues to work to secure additional gold projects in West Africa.

Birimian's projects in Mali include the Korindji Gold Project, located adjacent to both the 13Moz Sadiola Gold Mine and the 4.5Moz Yatela Gold Deposit, and the Dankassa Gold Project in southern Mali. The Company also operates the Basawa Gold Project in Liberia.



Contact:

Birimian Gold Limited
T: +61-8-9286-3045
F: +61-8-9226-2027
WWW: www.birimiangold.com