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Tuesday, 27th July 2004 (4477 views)

Troy Resources has reported an increase in production in its fiscal year results ending June 30.<BR/><BR/>The Australian-based gold miner produced 122,531 troy ounces during the period and broke its 100,000-ounce forecast as output increased by 53 per cent.<BR/><BR/>According to Dow Jones, the main reason behind the increased production was the firm's Sertao mine in Brazil, which produced 86,335 ounces of the precious metal at $64 an ounce.<BR/><BR/>Work is also planned at two other mines in Western Australia, with one plant said to have a gold resource of 319,000 ounces.<BR/><BR/>At present, exploration drilling is being carried out in the area and further studies are set for completion within the next quarter.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3113871"/>

 

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