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Monday, 29th June 2009 (568 views)

Norseman Gold is on track to meet its production target of 75,000 to 80,000 ounces of gold for the year ending June 2009.

The company, which operates the oldest continuously running gold find in Australia, revealed that it anticipates meeting this goal as well as surpassing predicted results for the fourth quarter, Proactive Investors (PI) reports.

Norseman's website suggests that the 80,000 ounces a year production total is standard for its field in Western Australia, but PI states that this figure is expected to rise to 100,000 ounces per annum in the near future.

It has increased exploration efforts in recent years and the establishment of a third mine at the site is a possibility.

Since being founded over 65 years ago, more than 5.5 million ounces of gold have been withdrawn from the Norseman field.

Further details of the 2008-09 targets are anticipated when Norseman publishes its June 2009 quarterly report at the end of July.

 

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