Good News Continues to Pour Out of Angel Mining

PUBLISHED: 23 Dec 2011 @ 14:58 | Comments (0) | More info about Lou Gutheil

Angel Mining (LSE:ANGM) shares continued their upward trend today as the company released the news that the Nalunaq mine had poured another 13.77 kilograms (428 ounces) of gold doré on Monday, December 19th. Angel stocks were up 26.09% on a volume of 43,032,669 shares.

Update on Operations

The is the 8th pour of gold doré at Nalunaq, and deepens the confidence of Angel Mining that the mine will yield is its projected volume of 1,500 to 2,000 ounzes per month. Total ounces poured for December is at 938.8 ounces. The first pour was on May 27,2011, Total ounces produced as of now is 3,323.8. This good news is in spite of a two-day shutdown for repairs and maintenance.

Company Plans

With the carbon regeneration circuit now being operational, the company expects to see the installation reflected in increased production rates in early 2012.

Nicholas Hall, CEO:

“The team at Nalunaq have achieved so much in the last few months. We now have a mine that is producing high grade ore to feed the only underground cyanide leaching plant in the world, as far as we know. They will be working throughout the Christmas and New Year period and we look forward to the challenges and opportunities that await us in 2012.”

Company Spotlight

Angel Mining Plc is an AIM listed company registered in England and Wales with an operational focus on Greenland. The company mines precious and semi-precious metals including gold, silver, zinc and lead with plans to expand and include coal and other minerals.

References
↑ Company website

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.