Friday, 22nd July 2005 (2912 views)

Mining company Gallery Gold has reported that its results for the half-year to June significantly exceeded expectations.

The Australian firm, which focuses most of its mining activity on Africa, predicts that it could beat its full year production forecast by between 10 and 20 per cent as a result of the better-than-expected six months.

Perth-based Gallery poured 52,017 ounces of gold for the six months till June from its Mupane operation in Botswana.

The company claims it is well ahead of its year-end target of 100,000 ounces and the addition of high grade ore at Mupane could boost production via an underground mine, AAP reports.

Gallery Gold managing director Hamish Bohannan said: "This has the potential to increase the plant's production by 10,000 to 20,000 ounces per annum and confirms Gallery as a significant gold producer in southern Africa."

Mupane was commissioned last October and is Gallery's first gold mine. The company also has the Buckreef project in Tanzania and gold, nickel and diamond prospects in both Botswana and Tanzania.

 

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