Cleveland Mining Company (ASX: CDG) has received the coveted Best Small Cap Developer award at the Government Business Foreign Affairs and Trade 4th Annual Mining Awards in Sydney.
The award was judged by a committee of financial journalists including Alan Kohler, Trevor Sykes, Bob Gottliebsen and Peter Charlton.
Russell Scrimshaw, non‐executive director of Cleveland Mining Company, accepted the honour on behalf of the company.
David Mendelawitz, managing director, said he was pleased that the tremendous effort of teams in both Australia and Brazil was being recognised, after the company achieved commercial production in November 2012.
"2012 was a transformational year for Cleveland. With a solid foundation now in place, there is a lot to look forward to in 2013."
Cleveland's most advanced project is the Premier Gold Project in Brazil, where mining and processing are ongoing.
Debt free gold production has commenced at the mine and the company has outlined multi-million ounce potential for development in surrounding project areas within the Crixás Hub.
Initial exploration drilling at Premier will be conducted on a large gold‐in‐soil anomaly located 1 kilometre south of the mine, about 800 metres and along trend from the 5 million ounce Serra Grande Gold Mine.
Drilling will also test an anomalous zone to the north of the Premier ore‐body, which is expected to be an overlying repetition of the Premier host geology.
Cleveland recently received firm commitments from institutional and sophisticated investors to raise $7 million.
The funds raised have been allocated to exploration and extensional drilling surrounding the Premier Gold Mine as well as sampling programs and drilling at the Mara Rosa Gold Project, also in Brazil.
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