PMEA Blog

Dual listed Philippines focused gold producer CGA Mining (TSX:CGA, ASX:CGX) slipped 2% in trading today despite reporting that its plant availability at the Masbate gold mine was 2.7% ahead of management`s forecast of 92%. The emerging gold producer reported the milestone in a brief update to shareholder this morning to coincide with its maiden year of operations at Masbate.

The processing plant at Masbate was initially designed to operate at a rate of 4 million tonnes per annum (Mtpa), but the Sydney and Toronto listed company reported today that a US$15 million investment program was `well advanced` which would increase throughput to 6.5 Mpta. In August the company achieved throughput of 0.538 million tonnes.

Read more..