LONDON (Alliance News) - Golden Saint Resources Ltd Tuesday said it is making positive progress with its operations in the Tongo, Baja and Zimmi licence areas in Sierra Leone.
The company said it has recovered six more diamonds from the Tongo stockpile, while a total of 12.8 grammes of gold have been recovered to date. The balance of the concentrate has been transported to the office in the Bo district for further detailed separation, it said, while extraction of gravel in preparation for the rainy season has begun.
In Zimmi, local miners have also recovered a further six diamonds.
The diamonds found in both Tongo and Zimmi will be collated over the coming weeks and then sent to Perth for sorting, prior to being dispatched for cutting and polishing, Golden Saint said.
Meanwhile, in Baja, the company has made preparations to begin soil sampling in the Boama village, it said.
Separately, Golden Saint said that it raised GBP23,678 by the issue of 15.8 million shares at 0.15 pence each. It intends to use the net proceeds for "general working capital purposes", it said.
Shares in Golden Saint were trading down 5.6% at 0.184 pence Tuesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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