MVC9 Feb 2011 12:25
Not the direction we want to be heading but it will change direction eventually.
Have patience people.
On 9 December 2010, the Company announced, inter alia, that SRK Consulting (UK) Limited ("SRK Consulting") had been engaged to provide advice on the re-opening of the old mines at Rusman and Gindusa (with re-opening for exploration access planned for February 2011), and input on the economic parameters for development of a future gold mine.
The Board of Medavinci Plc is pleased to announce that SRK Consulting has reported as follows: "SRK considers it likely that a small scale mining operation can be established and sustained at Deli Jovan using handheld pneumatic drilling equipment. The current constraints on operations are the unknown processing recovery and the limited information on the continuation of the ore zone outside the known working areas. The target of 30,000 ounces per annum as set by Deli Jovan Exploration d.o.o ("DE") could be achieved, on the condition that the historically reported widths and grades can be substantiated by the DE exploration programme."