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Main ForumCGA Mining ASX CGX leaps on news of throughput increase

  • As mentioned earlier CGA mining is making great productivity strides and it was on this basis that I invested in them. Today's announcement has caused the share price to rise over 12% today.

    There is a lot more to come from CGA!

    "The Board of CGA Mining Limited (“CGA”, “the Company”) (TSX Code : CGA, ASX Code : CGX) is pleased to announce a new record throughput level at the Masbate Gold Project with the mill having processed 22,562 tonnes on 27 November (previous record 21,831 tonnes announced 15 November 2010), which at a 94% availability, is equivalent to an annual throughput of approx. 7.5Mtpa - in excess of 90% above design capacity. This has been achieved with no significant investment yet in the planned expansion program, apart from the investment in key spares. During November, the plant has performed exceptionally well, achieving a number of key milestones including a daily throughput rate of 945 dtph and the top 6 throughput days, with a number of those records achieved on consecutive days.
    Michael Carrick, the CEO said “the performance of the plant in November demonstrates the outstanding upside potential of this project and the quality of both the operating team and development at Masbate.”"

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