DGAP-News: Pearl Gold AG / Key word(s): Monthly Figures
Pearl Gold AG: Production figures for March 2013, progress of external
audit
10.04.2013 / 11:13
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Production figures for March 2013, progress of external audit
- International consultants at Kodiéran site for audit
- Production figures for march
Frankfurt, 10.04.2013. During the month of March, as during the current
month of April, Wassoul'Or has and is focused on the preparation, execution
and testing in connection with the audit of the project by two companies of
international experience. It was essential for Wassoul'Or to prepare the
site visit extensively and to prepare those figures and procedures that
were required to enable the two consulting companies to execute their
duties with maximum effect.
During March, Wassoul'Or once again chose to treat low grade ore with the
specifics that allow the company to test the weak points of the production
unit. A total of 6.0 kg of gold was recovered from the partial treatment
applied to the low-grade ore treated, and 17,939 tons of untreated
concentrate remain for further processing and ILR (In-Leach-Reactor)
treatment. In view of the incomplete nature of extraction and the existence
of substantial interim stockpiles, it would be misleading to attempt a
calculation of so-called recovery rates - and this will be the case until
the partly-treated interim stockpiles are finally exhausted.
The consultants visited the site in the last days of March. The results
from that visit and further analysis will be consolidated into a detailed
report. The management of Wassoul'Or will, as soon as possible following
receipt of the report, decide what measures should be taken to increase the
productivity of the Kodiéran mine.
Meanwhile, the exploration work at the Traoréla site continues. The first
round of lab analysis was received and called for further detailed analysis
aimed at establishing structure within the alluvium being tested. The
current information is not yet detailed enough to allow development of
reserve figures but was adequate enough to encourage the involved parties
to continue the exploration work with test pits in order to generate bulk
samples for detailed recovery testing.
The results of the drilling around the current Kodiéran pit could not yet
be analysed. Wassoul'Or plans to start such an analysis within the next 2
months.
Summary of production figures for March 2013
* Processed raw material: 61,000 tons
* Gold content at the beginning of the production process: 0.42 gm/ton
* Gold content in waste material: 0.30 gm/ton
* Sum of extracted gold: 6,000 gm
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.
End of Corporate News
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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
Listed: Regulierter Markt in Frankfurt (General Standard)
End of News DGAP News-Service
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206654 10.04.2013
DGAP-News: Pearl Gold AG: Production figures for March 2013, progress of external audit
| Source: EQS Group AG