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Wednesday, 6th May 2009 (4172 views)

Norseman Gold has revealed that it increased gold production from 19,831 ounces over the last three months of 2008 to 19,902 ounces during the first quarter of this year, in excess of targets.

In a progress report on its activities, the company reported that its average realised gold price rose over the quarter to A$1,352 (£669) per ounce, compared with A$1,180 for the previous three months.

Norseman Gold also announced that it is planning to develop a third gold mine on its property in Western Australia and has obtained government approvals for an underground drilling programme at the site, which will commence shortly.

The company, which operates the Norseman goldfield, has two producing high-grade underground gold mines and lower-grade open pit stockpiles.

Listed on the AIM stock exchange, Norseman Gold operates the longest continuously running gold mining operation in Australia and has produced more than 5.5 million ounces of the precious metal over 65 years.

 

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