London, England — MININGREVIEW.COM — 10 March 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 is maintaining its monthly production at more than 3 000 ounces of gold.
An announcement released here confirmed that the Amesmessa mine had produced 3 037 ounces of gold and 590 ounces of silver in February 2009. While production in January 2009 was above management expectation of 3 000 ounces, the production for February was below the management expectation of approximately 4 000 ounces.
It explained that low availability of spares for mining equipment, delays in receiving the spares from ports, and certain operational issues with a new leach pad, had affected production results in February, but hastened to add that the directors were confident that these issues had been resolved, and that there should not be a negative effect on this month’s production.
GMA’s CEO Douglas Perkins commented: “In line with our previous announcement in January 2009, we will continue to report production on a monthly basis during the first quarter to keep shareholders informed on a timely basis. We are disappointed not to have increased monthly production for the fifth month in a row, even though this is hopefully a temporary situation. We will continue to fine-tune the operation to maximum efficiency as we gain more experience over the next couple of months,” he added.