Friday, 24th December 2004 (2952 views)

Canadian miner River Gold has announced that its production results for 2004 have beaten original forecasts.

Management at the company has revealed that gold production has just beaten the predicted 70,000 ounces and now the firm has upped the production forecasts for next year.

According to the firm it will produce 70,000 ounces of gold from its Eagle River Mine location alone.

By using selective mining methods again, the company will be able to cut down on labour, development and milling costs and plans an aggressive drilling programme in 2005.

The ten-year-old mining company has three mining projects near Ontario and purchases known gold deposits for future expansion.

 

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