New Guinea Gold: Gold Production at Sinivit for October/November Totalled 2,865 Ozsadmin
Gold production at the Sinivit Mine (92% NGG) in East New Britain, Papua New Guinea was boosted to 2,136 ozs in November which took the progressive total for the December quarter, (to end of November), to 2,865 ozs. In addition 504 ozs of silver was produced in the quarter to date.
“This is a major achievement”, said Chairman and CEO Bob McNeil. “With the process and mine improvements forecast in the MD&A lodged on Sedar on 29th November 2008, and in our Press Release dated 28th November 2008, we would expect further increases in the production rate in 2009.
These improvements will be financed by the previously announced $3.0 million Debenture Issue (in our Press Release dated 28th November 2008) and should be completed by the end of the first quarter in 2009.”
Full details of the Sinivit Project are described in an Independent N1 43-101 report dated January 2006 which is available at www.newguineagold.ca.