Exco Resources Limited (ASX:EXS) White Dam Gold Mine Official Opening And Production Update
Perth, June 10, 2010 AEST (ABN Newswire) - Exco Resources Limited (
ASX:EXS) (PINK:EXRSF) and its joint venture (JV) partner Polymetals Group Pty Ltd (Polymetals) are pleased to announce that the White Dam Gold Mine will be officially opened today by the Honourable Paul Holloway MLC, Minister for Mineral Resources Development, South Australia.
Following the first gold pour at White Dam in April 2010 the operation has gone from strength to strength. The ramp-up to full leaching capacity is ongoing; however production levels have already exceeded the planned annualized rate of approximately 50,000 ounces per annum. The JV partners are also benefitting from the prevailing gold price environment, with current production being sold at near record A$ spot prices.
----------------------------------------------------- WHITE DAM GOLD PRODUCTION (to 3 June 2010)-----------------------------------------------------Gold produced (oz) 6,171Exco's 75% share (oz) 4,628Barclays Loan Repayments made (oz) 1,345 (8%)Average Sale Price of Gold Sold- A$/oz 1,386Exco Revenue - A$ 2,854,595------------------------------------------------------
In addition to increasing production, attention will now also turn to near-mine exploration and resource development activities with a view to extending the mine life at White Dam. A number of near-mine targets will be tested in the coming weeks at Vertigo, White Dam North and Ambush.
The JV partners would like to take the opportunity to thank everyone associated with the project to date for their efforts and assistance in making it a success.
For the complete Exco Resources Limited announcement including White Dam JV Tenements Figure, please view the following link:
http://www.abnnewswire.net/media/en/docs/63053-ASX-EXS-493846.pdf
Contact
Michael Anderson
Managing Director
Exco Resources Limited
Phone: +61-8-9211-2000
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