TIDMPGL

RNS Number : 3272C

Peninsular Gold Limited

14 March 2014

PENINSULAR GOLD LIMITED

('Peninsular' or the 'Company')

Raub Operations Update

Highlights

-- Gold production for the quarter to 31 December 2013 of 4,628 ozs from approximately 302,000 tonnes of tailings throughput (Q3 2013: 5,836 ozs)

   --     Gold production for the six months to 31 December, 2013 totalled 10,464 ozs

Raub Operations

Gold production from the Raub plant was 4,628 ozs for the quarter to 31 December, 2013 compared with 5,836 ozs in Q3 2013. This decrease in gold production during Q4 was principally caused by a loss of throughput due a mill being offline for a few weeks for repairs, a lower recovery rate and some periods of heavy rain affecting operations.

The Raub Plant's CIL feed tonnage for the quarter was approximately 302,000 tonnes of tailings material. This was approximately 12% lower than the previous quarter's 342,000 tonnes of a mix of tailings and in-situ material.

The Q4 2013 result brings the total gold production for the first half of the financial year to 30 June, 2014 to 10,464 ozs (Q42012: 11,705 ozs), from the processing of an estimated 644,000 tonnes of material.

Q1 of 2014 has started well with an improvement in both recovery and throughput giving January gold production of 2,105 ozs, whilst at the same time the gold price is continuing to show signs of recovery from its recent lows of Q4 2013.

End

 
 Dato' Sri Andrew TY Kam           Patrick Watson 
  Chairman and Chief Executive      Finance Director 
  Peninsular Gold Limited           Peninsular Gold Ltd. 
  Tel: +60 (0)3 2698 8381           Tel: +44 (0)7799 885653 
--------------------------------  --------------------------- 
 Samantha Harrison/Craig Francis   Colin Rowbury 
  Nominated Advisor                 Broker 
  RFC Ambrian Limited               Daniel Stewart & Co. Ltd. 
  Tel: +44 (0)20 3440 6800          Tel: +44 (0)20 7776 6936 
--------------------------------  ---------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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