Pearl Gold AG / Key word(s): Monthly Figures
05.02.2013 16:47
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Pearl Gold AG: Kodiéran production figures for January 2013
- Processed raw material: 64,100 metric tons
- Extracted gold before smelting: 22,000 grams
- Diesel shortage due to subside
Frankfurt, 05.02.2013. Pearl Gold AG (ISIN: DE000A0AFGF3) is today
providing its first monthly update on the current situation and state of
production at the Kodiéran gold mine, in which Pearl Gold holds a 25
percent stake.
The management of gold mine operator Wassoul'Or announced the following
production figures. The processed raw material in January amounts to 64,100
metric tons. The sum of extracted gold is 22,000 grams. The initial gold
grade was stated at 2.01 grams per metric ton and the tailings gold grade
is at 0.41 grams per metric ton. For the month of January, the amount of
processed raw material was originally projected at approximately 200,000
metric tons. Thus, the gold mine was able to deliver around 30% of the
planned production.
Production figures are lower than anticipated because of shortages of
Diesel fuel supply at the Kodiéran gold mine. This can be attributed to a
heavy shortage on the Diesel market, which faced exceptional demand from
the military services. Due to the usage of Diesel powered generators the
Diesel fuel shortage led to an interruption in production.
However, due to the latest political and military developments and
currently incoming fuel deliveries, production is expected to increase and
run smoothly by the time the market stabilizes.
Summary Key Reporting Figures
- Anticipated processed raw material: 200,000 metric tons
- Actual processed raw material: 64,100 metric tons
- Initial gold grade was stated at 2.01 grams
- Tailings gold grade is at 0.41 grams
- Extracted gold before smelting: 22,000 grams
Pearl Gold AG
Pearl Gold AG is a project developer and active investor listed in the
General Standard 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 has a stake of 25 per cent. Wassoul'Or concentrates on
the exploration and production of gold and runs the Kodiéran gold mine in
the South of Mali. For further information as well as the securities
prospectus visit http://www.pearlgoldag.com
For Inquiries:
MSL Financial
Press@pearlgoldag.com
Tel: +49 (0) 69 6612456 8394
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information
included in this news release constitutes 'forward-looking statements'. The
words 'expect', 'plan', 'will', 'intend', 'estimate' and similar
expressions identify forward-looking statements. Forward-looking statements
are necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. The Pearl Gold AG cautions the reader that such
forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance or
achievements of the Company to be materially different from the Company's
estimated future results, performance or achievements expressed or implied
by those forward-looking statements and the forward-looking statements are
not guarantees of future performance. These risks, uncertainties and other
factors include, but are not limited to, risks associated with the mining
industry such as government regulation, environmental and reclamation
risks, title disputes or claims, success of mining activities, future
commodity prices, costs of production, possible variation in mineral
reserves, mineral resources, grade or recovery rates, failure of plant,
equipment or processes to operate as anticipated, accidents, labour
disputes, the timing of estimated future production, capital expenditures,
financial market fluctuations, requirements for additional capital,
conclusions of economic evaluations, limitations on insurance coverage,
risks associated with using third-party contractors and inflation. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except as required by applicable law.
05.02.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Pearl Gold AG
An der Welle 4
60322 Frankfurt
Germany
Phone: +49 (0) 69 7593 8587
Fax: +49 (0) 69 7593 8200
E-mail: info@pearlgoldag.com
Internet: www.pearlgoldag.com
ISIN: DE000A0AFGF3
WKN: A0AFGF
End of Announcement DGAP News-Service
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DGAP-Adhoc: Pearl Gold AG: Kodiéran production figures for January 2013
| Source: EQS Group AG