Highlights ? FIRST GOLD BAR PRODUCED FROM CATHERWOOD STOCKPILES ? TREATMENT CAMPAIGN CONTINUES Overview Phoenix Gold Limited (ASX: PXG, “Phoenix”) is pleased to announce that it has poured its first gold bar from the treatment of remnant stockpiled Catherwood ore at the Greenfields Mill.
Phoenix Board with first load of ore Exploration Manager Ian Copeland and Board with gold bar “The pouring of our first gold bar is a significant milestone for Phoenix and we are confident that there will be many more where that came from. The cash from the treatment of these historic stockpiles will enable additional exploration work to be carried out to continue growing our Resources and will fund the development of our first mine next year,” Managing Director Jon Price said. “Becoming a self-funded explorer and developer has been a core part of our strategy and it is extremely pleasing to be generating cash flow before the Company’s first birthday in December. We have a very busy 2012 ahead with large drilling programmes underway, more historic stockpiles to treat and the development of our first gold mine,” he said
PXG Price at posting:
19.3¢ Sentiment: Buy Disclosure: Held