Friday, 29th October 2004 (2917 views)

An Australian junior gold firm has announced it is to begin pouring gold at its first ever operating mine by the beginning of November.

Gallery Gold has been working on the site in Mupane in Botswana and the move comes six years after the deposit was first discovered, according to Mineweb.

The company claims that by the end of its financial year in June it will be producing around 60,000 ounces.

In addition, it believes that once in full production the mine would offer $16.5 million in operating cash each year.

Merging with Spinifex Gold last year, the company has also got access to some prospects in Tanzania too.

Hamish Bohannan, Gallery's managing director explained that $2.05 million has been put aside for exploration in Tanzania and drilling will be complete by Christmas.

 

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