London, England — MININGREVIEW.COM — 12 February 2009 – GMA Resources plc – incorporated in Australia and listed on the London Stock Exchange’s Alternative Investment Market – says its Amesmessa gold mine in southern Algeria has reached the stage where it is achieving targeted production. In fact its latest monthly production figure has set a new record.
In its latest production update released here the company confirmed that the mine had produced 3 391 ounces of gold in January – 13% above management expectation of 3 000 ounces. In addition, the mine produced 605 ounces of silver.
CEO Douglas Perkins commented: “Under normal operating conditions, we would announce production on a quarterly basis. However, during this ramp-up period at Amesmessa – since the delivery of commercial quantities of explosives which started in early November 2008 – the directors considered it appropriate to inform investors of achieved production on a monthly basis,” he added.
“It was exciting to see the mine operating under full scale operating conditions during a recent visit,” Perkins continued. “This is the first time Amesmessa has operated at full capacity and we are analysing the effectiveness of the operation. We will continue to fine-tune the mine to maximum efficiency as we gain more experience over the next couple of months,” he concluded.