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Friday, 29th October 2004 (4464 views)

An Australian junior gold firm has announced it is to begin pouring gold at its first ever operating mine by the beginning of November.<BR/><BR/>Gallery Gold has been working on the site in Mupane in Botswana and the move comes six years after the deposit was first discovered, according to Mineweb.<BR/><BR/>The company claims that by the end of its financial year in June it will be producing around 60,000 ounces.<BR/><BR/>In addition, it believes that once in full production the mine would offer $16.5 million in operating cash each year.<BR/><BR/>Merging with Spinifex Gold last year, the company has also got access to some prospects in Tanzania too.<BR/><BR/>Hamish Bohannan, Gallery's managing director explained that $2.05 million has been put aside for exploration in Tanzania and drilling will be complete by Christmas.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3739595"/>

 

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