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Friday, 9th January 2009 (1366 views)

GMA Resources has announced that it has reached its output target for the fourth quarter of 2008.

According to the gold producer, previous problems related to sourcing explosives are being solved and production levels are increasing, with shipments delivered in November and December and regular monthly deliveries expected during 2009.

GMA reported that gold production rose from 1,205 ounces of gold in October 2008 to 1,550 ounces in November and 2,537 in December at its Amesmessa gold mine in Algeria.

Annual production at the mine rose was 21,156 ounces of gold for 2008 and Douglas Perkins, GMA chief executive, has predicted that production results will remain strong during 2009, with capacity reached by the end of the first quarter of the year.

"The ore continues to leach well and we are now able to mine more efficiently with the commercial quantities of explosives," he stated.

GMA Resources' operations are focused in Algeria and the company owns a 52 per cent interest in the 1,425 sq km Tirek-Amesmessa gold concession in the south of the country in a joint venture with state-owned firm Sonatrach Aval.

 

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