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China Nonferrous Gold pleased with production at Pakrut
24th Feb 2020 10:44
(Sharecast News) - Mineral exploration and mining company China Nonferrous Gold, which is currently mining the Pakrut gold project in Tajikistan, released its annual gold production from Pakrut for 2019 on Monday.
The AIM-traded firm said it made "significant achievements" in the year, claiming to have become an "important gold production enterprise" in Tajikistan.
Pakrut achieved its internal production targets for 2019, the board confirmed, explaining that from 1 January to 31 December, a total of 731,600 tons of ore was extracted from the mine.
A total of 690,300 tons of ore was processed, above the company's original internal estimate for 660,000 tons per year, and 37,552.02 ounces of gold ingots were poured, with an average grade of 99.97%.
"The company intends to implement a further efficiency plan to improve the production capacity and reduce costs," the China Nonferrous Gold board said in its statement.
"Further updates will be made as appropriate."
At 0954 GMT, shares in China Nonferrous Gold were up 15.4% at 12.52p.
The AIM-traded firm said it made "significant achievements" in the year, claiming to have become an "important gold production enterprise" in Tajikistan.
Pakrut achieved its internal production targets for 2019, the board confirmed, explaining that from 1 January to 31 December, a total of 731,600 tons of ore was extracted from the mine.
A total of 690,300 tons of ore was processed, above the company's original internal estimate for 660,000 tons per year, and 37,552.02 ounces of gold ingots were poured, with an average grade of 99.97%.
"The company intends to implement a further efficiency plan to improve the production capacity and reduce costs," the China Nonferrous Gold board said in its statement.
"Further updates will be made as appropriate."
At 0954 GMT, shares in China Nonferrous Gold were up 15.4% at 12.52p.