DGAP-News: Pearl Gold AG inspects mining site in Mali
(firmenpresse) - DGAP-News: Pearl Gold AG / Key word(s): Miscellaneous
Pearl Gold AG inspects mining site in Mali
23.04.2012 / 11:25
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Pearl Gold AG inspects mining site in Mali
Frankfurt, 23 April 2012 - A delegation of Pearl Gold's management and
supervisory board have been in Mali last week to inspect the situation of
the Kodieran gold mine. Six weeks after the mine's official inauguration
the production is in a reasonably good situation. 'We are glad to confirm
that the gold production in Kodieran has made good progress,' said Robert
F. Goninon, President of Pearl Gold's supervisory board. 'Even though the
political situation in Mali is still complicated, it is calm and we are
witnessing international suppliers and other service personnel that had
left the country starting to come back.' Due to their absence, one part of
Kodieran's production process, which was not fully commissioned before
their departure, could not yet be operated. 'We are in close discussions to
enable a quick return of these teams,' comments Lutz Hartmann, member of
Pearl Gold's management board, who has been on site with Goninon. And he
adds: 'The mine's gravimetric process has been optimized in order to
quickly reach the full production capacity. The results obtained from the
gravimetric process confirm our expectations of gold grades.' Pearl Gold
will announce the actual ore grades shortly after the full process has been
put into operation.
In parallel, the gold mine's operating company Wassoul'Or S.A., in which
Pearl Gold holds a 25 percent stake, has commissioned a new drilling
program at its concession in the South of Mali. The program, totalling
20,000 meters of mainly RC drilling, will start with a 6,000 meter RC
exploration reconnaissance phase on one of the other four sites in the
concession, and will continue with an additional program totalling some
14,000 meters designed to extend the dimensions of the current pit at the
Kodieran hill with a view to proving additional reserves for incorporation
into Kodieran's resource base.
Pearl Gold AG
Pearl Gold AG is a holding company listed on the Open Market of the
Frankfurt Stock Exchange, based in Frankfurt. The company focuses on
investments in West African exploration and mining corporations, especially
in the field of gold and other precious metals. The first investment of
Pearl Gold is the Malian mining company Wassoul'Or, in which Pearl Gold
holds 25% of shares. Wassoul'Or concentrates on the exploration and
production of gold and runs the Kodieran gold mine in the South of Mali.
For further information visit http://www.pearlgoldag.com
For Inquiries:
MSL Financial
Steffi Fahjen
Email: steffi.fahjen(at)mslgroup.com
Tel: +49 (0) 69 6612456 8394
End of Corporate News
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166033 23.04.2012
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Datum: 23.04.2012 - 11:25 Uhr
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