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14 Jan 2010 12:11
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(AIM: GMA) |
14 January 2010 |
GMA Resources plc
("GMA" or the "Company")
Production Update forΒ DecemberΒ 2009
GMA announces that inΒ DecemberΒ 2009,Β the Amesmessa gold mine in Algeria producedΒ 1,704Β ounces of gold and372Β ouncesΒ of silver.Β The mine produced a total ofΒ 32,691Β ounces of gold in 2009 compared withΒ 21,156Β ounces in 2008.Β ENOR gold sales for the yearΒ totalledΒ 33,992 ouncesΒ (including a small inventory from 2008),Β at an average selling price of USD$959.63Β per ounce.
FromΒ January 2010Β onwards production updates will be made quarterly. In addition,Β the CompanyΒ intends to announce details of itsΒ explorationΒ plansΒ asΒ the programmeΒ developsΒ during 2010.
Douglas Perkins, Chief Executive of GMA, commented:
"SignificantΒ stepsΒ areΒ beingΒ takenΒ to address the continuing underperformance of the mine at Amesmessa;Β details ofΒ these steps willΒ be announced in the coming months."
ENQUIRIES:
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GMA Resources Plc |
Douglas Perkins |
+1 514 806 6788 |
|
MerchantΒ John EastΒ Securities LimitedΒ |
Bidhi BhomaΒ |
+44 (0) 20 7628 2200 |
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