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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
River Diamonds | LSE:RVD | London | Ordinary Share | GB00B00SV774 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 7783U River Diamonds PLC 19 May 2008 19 May 2008 AIM: RVD River Diamonds PLC ('the Company' or 'River Diamonds') First Gold pour at Fiji Gold Mine after recommissioning River Diamonds is pleased to announce that its 100%-owned Vatukoula Gold Mine ("the Mine" or "Vatukoula") in Fiji has today had its first operational gold pour of 641 ounces since the Mine was placed on care and maintenance in December 2006. The gold poured was from concentrates from the recommissioning of the mill's floatation, roaster and calcine circuits, which were brought on line on 8 May 2008. This pour, which totalled 779.2 ounces of gold ore (comprising 641 ounces fine gold and 121 ounces of fine silver), is in-line with production targets and represents the final step in the recommissioning of operations at the Mine. Gold that is currently being recovered through the mill's carbon-in-leaching circuit and accumulated on carbon will be added to the gold pours over the coming weeks. Operations within the Mine, whilst still experiencing some inevitable "teething issues", have now reached a steady-state condition. Ore from both the underground and open pit operations is now being supplied to the mill on a daily basis. Alongside the commencement of production at Vatukoula, the Company has also recruited an experienced operational management team to complement the existing management in Fiji. The JORC-compliant gold resources at the Mine total 16.84 million tonnes at an average grade of 9.49 grams of gold per tonne or 5.15 million ounces of gold. Currently, the Mine employs approximately 700 personnel. David Lenigas, River Diamond's Executive Director commented: "This pour of 641 ounces of fine gold is the culmination of a lot of dedicated work by the entire River Diamonds team in recommissioning the Mine in a relatively short period of time and bedding down the entire process into steady state operations. I am delighted with this achievement and would like to thank all involved. River Diamonds now looks forward to continuous gold operations from the Mine in what can reasonably be described as a very positive gold market. The Mine is an entirely unhedged operation. The name of the Fijian operating company will be changed from Westech Gold to Vatukoula Gold Mines Limited over the coming weeks to more adequately reflect the local significance of this project to the Fijian economy." Enquiries River Diamonds: David Lenigas + 44 20 7016 5100 Colin Orr Ewing + 44 20 7352 4117 John Ian Stalker + 27 11 269 4900 Neil Herbert + 27 11 269 4900 W.H. Ireland Limited David Porter + 44 20 7220 1666 James Joyce Hichens, Harrison & Co pl Dave Paxton + 44 20 7382 7785 Parkgreen Communications Louise Goodeve / Justine Howarth + 44 20 7851 7480 Qualified Person Kiran Morzaria B.Eng (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School. Kiran is the Finance Director of River Diamonds. He is a fellow of the Geological Society. This information is provided by RNS The company news service from the London Stock Exchange END MSCUKOURWBRVAAR
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