focus minerals heavily traded on asx ...

TP Note: - I think the FML PR team have been at work today, lol. - Pie (:
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Source: news.smh.com.au/breaking-news-business

Focus Minerals heavily traded on ASX
November 9, 2009 - 1:49PM

AAP

Investors traded heavily in Focus Minerals Ltd after the gold miner said it had achieved record production at its Coolgardie project in Western Australia.

Shares in Focus were down 0.2 cents, or 3.33 per cent, at 5.8 cents at 1322 AEDT on Monday after almost 75 million shares changed hands, making it the second most traded stock.

Focus said in a statement on Monday it had achieved record gold production of about 21,900 ounces during its ninth milling campaign at the Greenfields gold treatment facility, where ore is being treated by a third party for a fee.

"The record production comes as the company makes final preparations to move all gold processing to its 100 per cent owned, 1.2 Mtpa (million tonnes per annum) Three Mile Hill gold processing facility, which is currently in the final stages of refurbishment ahead of commissioning in December," Focus said.

Focus began production in April last year and has spent $18.5 million on the mill refurbishment.

The company said last month that breakdowns at the Greenfields treatment facility had "little or no effect" on its gold production, but prompted it to spend about $4 million on spare parts for its own mill.

Focus said it had available cash and billion of $19.8 million, allowing it to "aggressively ramp up drilling programs in the area".

© 2009 AAP


Ends.

Cheers, Pie (: