LionGold's gold reserves less than thought

A NEW technical report on LionGold's mine in Bolivia has lowered its estimate of the reserves it holds there, but a higher gold price estimate will see free cash generated from the mine increase 96 per cent to US$269 million.

The company also plans to develop the project in two phases to reduce risks.

The latest report, by AMC Mining Consultants, in an update to a 2011 study, took a different approach to interpret the mineralisation in the mine with new available data.