CGA Mining gold production jumps 27% to 190,000 oz

CGA Mining gold production jumps 27% to 190,000 oz, CGA Mining gold production jumps 27% to 190,000 ounces at Masbate in year to June Tuesday, July 12, 2011 by John Phillips The gross revenues of US$270m from gold production at Masbate for financial year 2011 could be just the beginning for CGA Mining, with the company allocating a substantial US$20m exploration budget for the next year to boost gold reserves. CGA Mining (ASX: CGA, TSX: CGX) continues to deliver from the Masbate Gold Project in the Philippines, with the company pouring over 190,000 gold ounces during financial year 2011, a 27% increase of the previous corresponding period. Spot gold averaged around US$1400 an ounce during the one year period, providing gross revenues of US$270 million. The production was achieved from a throughput level of almost 6.2 million dry tonnes, a 37% boost over financial year 2010. The anticipated upside for Masbate are these results are likely to be just th [mehr]

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CGA Mining gold production jumps 27% to 190,000 oz