14th Jan 2010 12:11
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(AIM: GMA) |
14 January 2010 |
GMA Resources plc
("GMA" or the "Company")
Production Update for December 2009
GMA announces that in December 2009, the Amesmessa gold mine in Algeria produced 1,704 ounces of gold and372 ounces of silver. The mine produced a total of 32,691 ounces of gold in 2009 compared with 21,156 ounces in 2008. ENOR gold sales for the year totalled 33,992 ounces (including a small inventory from 2008), at an average selling price of USD$959.63 per ounce.
From January 2010 onwards production updates will be made quarterly. In addition, the Company intends to announce details of its exploration plans as the programme develops during 2010.
Douglas Perkins, Chief Executive of GMA, commented:
"Significant steps are being taken to address the continuing underperformance of the mine at Amesmessa; details of these steps will be announced in the coming months."
ENQUIRIES:
|
GMA Resources Plc |
Douglas Perkins |
+1 514 806 6788 |
|
Merchant John East Securities Limited |
Bidhi Bhoma |
+44 (0) 20 7628 2200 |
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