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Monday, 8th October 2007 (2947 views)

At the end of its first month of production at the Paddington gold mine, Norton Gold Fields has announced that the results thus far have been "encouraging", according to Trading Markets.

The managing director of Norton, Tim Prowse, attributed the successful first month at the Australian mine to the commitment of its staff, the majority of whom are based in nearby Kalgoorlie.

"The production over 18,000 ounces of gold in five weeks shows we are well on track to meet and exceed production targets," said Mr Prowse, according to Trading Markets.

"Clearly it is early days, however it certainly shows we are a serious player with all onsite actively working to improve efficiency and build an exciting future."

The mine is expected to produce 150,000 ounces of gold per year, which would make it the fourth-largest gold producing mine in Australia listed on the ASX.

Norton Gold Fields acquired the Paddington gold mine in April this year.

 

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