HomeGoldAmesmessa gold output up 70% in 2009

Amesmessa gold output up 70% in 2009

GMA’s Amesmessa
gold project
in Algeria
 
London, England — MININGREVIEW.COM — 13 November 2009 – GMA Resources plc – incorporated in Australia and listed on the London Stock Exchange’s Alternative Investment Market – has announced that its Amesmessa Gold Mine in Algeria produced a total of 28 645 ounces of gold in the first 10 months of 2009 “’ an increase of almost 70% on the 17 069 ounces produced in the corresponding period of 2008.

The company’s latest production update released here revealed that the mine had produced 1 918 ounces of gold and 379 ounces of silver in October.

The update explained that production in October had continued to fall short of forecasts due to long delays in the delivery of replacement parts to keep equipment running at design capacity. GMA had been addressing this issue in a number of ways, including increasing inventory on order and the appointment of a country manager with a particular focus on logistics process management. The company had also been working closely with local partners to make the most of their capabilities in addressing supply chain and other operational constraints.

GMA chief executive Douglas Perkins commented: “While current production continues to disappoint, we remain committed to achieving resolution of the underlying supply chain difficulties by all available means.”

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