First Gold Pour at Lihir; Vengold Increases Stake.VANCOUVER, B.C.--(BUSINESS WIRE)--May 27, 1997--Vengold (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : VENGF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended , AUSTRALIA STOCK EXCHANGE: VEN Ven: see Landskrona, Sweden. .) announced Tuesday that the Lihir gold project has commenced production of gold dore after commissioning of the ore processing and gold production facilities. John O'Reilly, chief executive officer of Lihir Gold Ltd., stated that "the commissioning of the oxide processing facilities has proceeded very well with excellent plant availability since commencement of milling operations on May 1st with anticipated ore throughput in May of approximately 150,000 tonnes." Commissioning of the sulphide processing facilities remain on schedule for August 1997. Total gold production for the year is forecast at 175,000 ounces and will exceed 600,000 ounces per annum Per annum Yearly. in 1998. 150,000 ounces of the 1997 production has been sold forward at US $406 per ounce. Vengold also disclosed that it has increased its interest in Lihir from 7.1 percent to 7.5 percent through the acquisition of shares in the market. Additional information about Vengold Inc. can be obtained at www.vengold.com . CONTACT: Vengold Inc. Ian Telfer, 604/664-7050 or Glenn Ives, 604/664-7050 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion