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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
