today announced that the right issue is done and they expect 60000 ounces by mid 2005 and by the end of 2005 120 000ounces per annum thats 2mil a month profit. plus copper as well 11:58, Friday, 24 December 2004
Sydney - Friday - December 24: (RWE Australian Business News) - SMC Gold shipped 774 Dry Metric Tonnes (DMT) of Copper Concentrate in November. The copper concentrate was delivered for an estimated value of US$440,126 (AU$587,000). The average grade of the concentrate shipped was 19.7% copper, 3.34 g/t gold and 190.60 g/t silver. In mid November, plant production was delayed by an interruption to the water supply. The company has rectified the problem in early December – long term water availability is excellent. December production, which is normally reduced by the season’s activities, is expected to exceed 1,000 DMT. Notwithstanding the short-term water problem, the November outcome demonstrates that plant capability is increasing and that the production rate target of 1500 tpd by May 2005 remains on track. ENDS
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