Less Ads, More Data, More Tools Register for FREE

Pin to quick picksKemin Resources Regulatory News (KEM)

  • There is currently no data for KEM

Production Update

13 Apr 2010 07:00

RNS Number : 0731K
GMA Resources PLC
13 April 2010
 

AIM: GMA

12 April 2010

 

GMA Resources plc

("GMA" or the "Company")

 

Production Update for Q1 2010

 

GMA announces that from 1 January to 31 March 2010, the Amesmessa gold mine in Algeria produced 5,731 ounces of gold and 1,197 ounces of silver. More detailed production data is set out below.

 

GMA's management team, including acting Chief Executive Officer, Ken Crichton, is undertaking a comprehensive review of all operations and introducing a series of productivity improvements. To date these measures have included the following:

 

·; The transfer of the unused carbon in leach (CIL) plant at Tirek to Amesmessa, where compliance testing during April should lead to full operational commissioning by the end of the month. This plant is expected to contribute a further 1,200 oz gold per month to total output from May 2010.

 

·; The purchase of four Mercedes road trucks in March 2010. These will enable cost effective delivery to the plant of ore taken from more distant resources. Until now these deposits have been uneconomic to access using the existing larger/slower haul trucks.

·; As opposed to continued reliance on high strip ratio ore at Amesmessa only, systematic selection of higher grade, low strip ratio ore locations across the concession has commenced. This process is being made more productive by using existing and new trench sampling data. This data, together with some limited drilling will determine the mine plan until the new purpose built drill rig, which has arrived in Algeria, arrives at the mine site and JORC compliant exploration results can be obtained.

 

·; A remote sensing review was conducted by the Australian mapping specialist firm Earthscan to identify alteration zones across the concession to prioritise future exploration targets. These alteration zones have been ranked and a geochemical soil sampling of the best anomalies has commenced.

 

·; A restructuring of the organisation resulting in a significant head count reduction amongst expatriates has been completed.

 

More detailed production data for first quarter of 2010 is set out in the table below:

 

Unit

Jan '10

Feb '10

March '10

1st Quarter

Total Gold Production ENOR

oz

2,010.6

1,674.8

2,046.1

5,731.5

Total Silver Production ENOR

oz

390.5 

314.8 

492.0 

 1,197.3

High Grade Ore Tonnes ex-Mine

mt

5,040

2,460

3,660

11,160

High Grade Ore Grade ex-Mine

g/t Au

9.45

8.65

16.40

11.56

Heap Leach Ore Tonnes ex-Mine

mt

35,850

36,930

54,400

127,180

Heap Leach Ore Tonnes ex-Mine

g/t Au

2.23

2.36

2.57

2.42

Waste Tonnes Mined

mt

369,990

303,000

306,540

979,530

Strip Ratio

9.05

7.69

5.28

7.08

Ore Stacked to Heap Leach Pad

mt

39,661

47,963

44,523

132,147

Crushed Ore Grade

g/t Au

2.47

2.66

3.74

2.97

 

 

 

Ken Crichton, Chief Executive of GMA, commented:

 

"Preliminary steps have been taken to establish more reliable and cost effective production at Amesmessa. We expect to see an improvement in output in Q2 2010 with the assistance of the Tirek CIL and the measures outlined above."

 

Enquiries:

 

GMA Resources Plc

 

Ken Crichton

+20 (0)10766 6118

Merchant John East Securities Limited (Nomad)

Bidhi Bhoma

+44 (0) 20 7628 2200

 

Notes to Editors:

 

GMA owns a controlling 52% stake in ENOR spa ("ENOR"), the Algerian based operating company for the Tirek-Amesmessa project, with the remainder owned by Sonatrach, the Algerian state-owned oil and gas company.

 

ENOR holds the exploitation authorisation to the Tirek-Amesmessa property, an area of some 1,417 km2, located approximately 450km south west of the city, Tamanrasset, in southern Algeria. Amesmessa is an open pit heap leach gold mine located in the extreme south of the permit area. The Tirek gold mine is located centrally in the northern third of the exploration permit area, some 60 km north of Amesmessa. Research to date suggests that the Zita Zone, which lies between Tirek and Amesmessa, offers considerable potential for the development of additional prospects amenable to open-pit mining. GMA plans to quickly expand upon resources outside of the major 80km Tirek-Amesmessa fault north/south of the concession.

 

GMA's shares are traded on the AIM market of the London Stock Exchange (AIM: GMA).

 

For further information on the Company, please visit: www.gmaresources.co.uk

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLLLFSTSEIFLII
Date   Source Headline
20th Oct 20107:00 amRNSIssue of Equity & Loan Stock 2012 Conversion
6th Oct 20107:00 amRNSProduction Update
29th Sep 20106:25 pmRNSHalf Yearly Report (Replacement)
29th Sep 20104:15 pmRNSHalf Yearly Report
20th Sep 20107:00 amRNSUpdate on Mining & Exploration Activities
30th Jul 20103:49 pmRNSTotal Voting Rights
27th Jul 20108:30 amRNSDirectorate Change
26th Jul 20104:18 pmRNSIssue of Equity
12th Jul 20103:54 pmRNSProduction Update
12th Jul 20107:00 amRNSAdviser - change of name
30th Jun 20109:35 amRNSIssue of Equity
30th Jun 20109:30 amRNSFinal Results
15th Jun 20107:00 amRNSTrading & Drilling Update
10th May 201011:01 amRNSHolding(s) in Company
7th May 20101:07 pmRNSTrading Statement
13th Apr 20107:00 amRNSProduction Update
1st Mar 20107:00 amRNSDirectorate Change
26th Feb 20107:00 amRNSTotal Voting Rights
17th Feb 20107:00 amRNSFurther re Issue of Equity
29th Jan 20107:00 amRNSTotal Voting Rights
26th Jan 20107:00 amRNSDirectorate Change
14th Jan 201012:11 pmRNSProduction Update
13th Jan 20107:00 amRNSFurther re Issue of Equity
31st Dec 20097:00 amRNSTotal Voting Rights
15th Dec 20092:59 pmRNSFurther re Issue of Equity
8th Dec 200911:58 amRNSProduction Update
10th Nov 200912:40 pmRNSProduction Update
30th Oct 20097:00 amRNSTotal Voting Rights
21st Oct 20097:00 amRNSNOMAD Change of Name
19th Oct 20098:05 amRNSIssue of Equity
13th Oct 20098:41 amRNSProduction Update
23rd Sep 20097:00 amRNSHalf Yearly Report
8th Sep 20093:55 pmRNSProduction Update
10th Aug 20094:39 pmRNSProduction Update
24th Jul 200912:57 pmRNSResult of AGM
22nd Jul 20091:17 pmRNSDirector/PDMR Shareholding
7th Jul 20097:00 amRNSProduction Update
29th Jun 20097:00 amRNSAvailability of Report & Accounts and AGM Notice
25th Jun 200911:57 amRNSHolding(s) in Company
23rd Jun 20097:00 amRNSFinal Results
5th Jun 200910:20 amRNSProduction Update
29th May 20097:00 amRNSTotal Voting Rights
13th May 20097:00 amRNSProduction Update
5th May 20097:00 amRNSPlacing to raise ?1,020,000
30th Apr 20097:00 amRNSTotal Voting Rights
17th Apr 20097:00 amRNSVICE PRESIDENT EXPLORATION HIRED
7th Apr 200910:27 amRNSProduction Update
6th Apr 20092:00 pmRNSIssue and conversion of convertible loan stock
25th Mar 20093:50 pmRNSAmesmessa Mobile Telephone Service Commences
11th Mar 20094:22 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.