Vatukoula Gold Mines Limited is expecting a twenty five percent increase in Gold production for this year.
CEO David Paxton reveals that production is expected to increase after their geologists and consultants identified numerous extremely prospective exploration targets.
According to Paxton, the Mine has set themselves a target of annual production rate of 100,000 ounces of gold per year after exceeding gold production prediction for last year by more than 9,000 ounces, for the period ending August 2010.
He reveals that a reason for the increased underground production was due to newly acquired equipment working satisfactorily and higher grades.
The Vatukoula mine recovered a total of 21,107 ounces of gold, bringing the total for the 12 months to end August to 59,658 ounces.
Story by: Paradise Tabucala.
Source: London Evening Standard and the UK Stock Market.
Vatukoula Gold Mines expects 25% increase in Gold production
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