GGCO production update
"Testing at Ghana Gold's new site has resulted in multiple samplings approaching 2.0 gpt. On March 8(th) in its first day of limited production at the new site,( )Ghana Gold's production team netted a very encouraging 211.5 grams. Full production is expected to commence next week and Management is confident that even with a partial production schedule in March, that the Company will approach and perhaps surpass Alluvial production from the same period last year of 1395 grams."
211.5 x 24 = 5076 grams / 28.3 = 179.4 ounces
179.4 x $1608 = $288,417 per month x 12 = $3.46 million a year.
There's potential here.
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PORT ST. LUCIE, Fla., March 20, 2013 /PRNewswire/ -- Ghana Gold Corporation; OTC (PINKSHEETS: GGCO) is pleased to announce today that the company produced 455 grams of gold during the month of February from Alluvial Production. Production was limited to 6 days as the Company had been relocating equipment to a new site within the Jukwa Concession. Logistic maneuvers required more time than expected, with the move now completed the Company anticipates a full production schedule of approximately 24 days per month to commence shortly.
Testing at Ghana Gold's new site has resulted in multiple samplings approaching 2.0 gpt. On March 8(th) in its first day of limited production at the new site,( )Ghana Gold's production team netted a very encouraging 211.5 grams. Full production is expected to commence next week and Management is confident that even with a partial production schedule in March, that the Company will approach and perhaps surpass Alluvial production from the same period last year of 1395 grams.
Unlike the vast majority of Junior Miners, Ghana Gold employs a unique strategy of harvesting alluvial gold while planning and testing for hard rock reserves. At a time when many Junior Miners are facing difficulty in financing projects, Ghana Gold's alluvial production helps to create self-sustainability.
Robert Kirkcaldy, COO states, "It is a very exciting time for the Company, as recently announced the Company executed a LOI with Founders Mining and we are close to completing our due diligence. Additionally, we are heading into several typically dry months which allow for greater production and revenue. With our move being completed we look forward to maximizing our alluvial opportunity and reporting increased growth to our shareholders as we continue to mine, test and explore these concessions and evaluate other new potential prospects for the Company to enhance shareholder value".
The company's website is www.Ghanagoldcorporation.com
Robert Kirkcaldy, President and COO Ghana Gold Corp
For further Information and inquiries please call: 866-340-3095.
