Angel Mining PLC Result of AGM and Production Update (0137N)
24 Setembro 2012 - 11:35AM
UK Regulatory
TIDMANGM
RNS Number : 0137N
Angel Mining PLC
24 September 2012
AIM: ANGM
24 September 2012
ANGEL MINING PLC ("Angel Mining" or the "Company")
Result of AGM and Production Update
The Company is pleased to announce that all of the resolutions
put to shareholders at today's annual general meeting have been
duly approved.
Angel Mining provided shareholders with an operations update
from its mines in Greenland. It stated that it poured 8.31kg
(240oz) of gold doré on 26 August 2012 and another one of 8.87kg
(256oz) on 13 September 2012. Production during August and
September was impacted by low grade and problems with the crushing
circuit. However, the crushing circuit is now fixed so that all
crushing can be done underground while balls for the ball mill are
due on site today and a new liner for the ball mill is in transit -
due before end of month.
The Company expects total gold recovery for September to reach
793oz and forecasts gold recovery of 1,940oz in October, 1,765oz in
November and 2,232oz in December. These and further details can be
found in the management presentation which was given to
shareholders at today's AGM and has been made available on the
Company's website, www.angelmining.com.
Enquiries:
Angel Mining plc
Nicholas Hall, Chief Executive
Officer 07931 709 053
Kevin McNair, Chief Financial
Officer 07900 690 908
Fox-Davies Capital (Broker)
Daniel Fox-Davies/Simon Leathers 0203 463 5000
Bishopsgate Communications Limited
Nick Rome 0207 562 3350
Background to Angel Mining
Nalunaq
The Company first poured gold at Nalunaq on 27 May 2011
following final completion of the processing plant and is targeting
optimal production by Q1 2012 of approximately 24,000 oz per annum
thereby providing the Company with cash flow which will be
dedicated to funding development at Black Angel, further
exploration at Nalunaq and reducing debt. The current mining plan
anticipates a mine life of two to five years, subject to further
exploration work. The directors anticipate that Nalunaq may enter
into toll treatment arrangements with other potential gold mining
activities in the region where appropriate. Angel Mining currently
operates the only operational gold mine in the region and
anticipates that its operation may be suitable for processing ore
from other gold mining companies in the region in the future.
Black Angel
The Black Angel project is a high grade zinc/lead project based
around a previously developed mine in the north of Greenland. The
table below sets out the JORC Code compliant mineral resources
estimate for the Black Angel project which includes three sets of
zones within the mine and three satellite deposits which have been
explored.
Summary of Black Angel Mineral Resources (JORC) as of 31 December
2007
================================================================================
Category Tonnage Zinc Lead Silver Mineable
(kt) (%) (%) (g/t) reserves
(kt)
================ ============= ========== ====== ===== ======= ===========
Angel Zone Indicated 791 13.0 4.5 25.0 218
================ ============= ========== ====== ===== ======= ===========
Cover Zone Indicated 522 8.3 2.4 18.0 231
================ ============= ========== ====== ===== ======= ===========
Other zones
within the
Black Angel
mine Indicated 697 10.4 3.3 13.0 -
================ ============= ========== ====== ===== ======= ===========
South Lakes
Glacier Indicated 1,726 6.9 2.5 14.5 -
================ ============= ========== ====== ===== ======= ===========
Ark Inferred 492 4.7 2.2 20.4 -
================ ============= ========== ====== ===== ======= ===========
Nunngarut 2 Indicated 196 9.0 3.4 31.0 -
================ ============= ========== ====== ===== ======= ===========
Nunngarut 2 Inferred 1 4.5 1.9 9.0 -
================ ============= ========== ====== ===== ======= ===========
Total 4,425 449
=============================== ========== ====== ===== ======= ===========
Source: Wardell Armstrong International Ltd.
================================================================================
The project consists of three phases:
Phase I: Complete the rehabilitation of infrastructure to allow
access to the mine, the mine camp and related facilities.
Phase II: Complete the detailed review of the pillar extraction
programme within the Angel and Cover Zones, including the
construction of the process plant and related systems to allow for
the shipment of concentrate from the site.
Phase III: Develop a further exploration programme for the
existing JORC resources at the Ark and Glacier deposits as well as
identified mineralization at Deep Ice, Nunngarut and a number of
other exploration targets within the license area (see the
announcements made by the Company on 6 June 2006 titled "Black
Angel 2006 Resource Statement" and on 30 November 2007 titled
"Black Angel 2007 Resource Statement").
Dr Bob Dowdell is the qualified person that has reviewed and
approved the technical information contained in this announcement.
Dr Dowdell holds a BSc and Doctorate in Mining Engineering from
Newcastle University and is a Chartered Engineer and Member of the
Institution of Mining and Metallurgy.
More information on the Company is available on the website,
please click here: http://www.angelmining.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUSOSRUSAKUAR
Angel Mining (LSE:ANGM)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Angel Mining (LSE:ANGM)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024
