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Wednesday, 10th December 2008 (1376 views)

Vatukoula Gold Mining (VGM) has announced that it has mined a total of 43,571 tonnes of ore in October and November this year, an increase of 20 per cent on the previous two months' total of 39,143 tonnes.

The company mined 10,529 ounces of gold over the period, up from 10,828 ounces in the previous two months and milled 37,332 tonnes of ore, compared with 34,683 tonnes in the previous two months.

October 2008 was the mine's first profitable month since it was acquired by VGM and 8,399 ounces of gold were milled, up from 6,925 ounces during August and September 2008.

David Paxton, VGM chief executive, commented: "I am very pleased with the progress we have seen at the mine. The heavy vehicle fleet overhaul is underway and progressing at a steady state."

The Vatukoula Treatment Plant is now operating satisfactorily, with gold recoveries at 86 per cent.

Located in Fiji, the Vatukoula gold mine was acquired by VGM in April this year and the company has since re-established gold mining operations on the prospect, which has been in operation for more than 75 years.

 

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