Fire River Gold Provides Update on Nixon Fork Gold Mine; Shares Just Above Yr Low

By Midnight Trader,  May 16, 2012, 10:15:28 AM EDT

Fire River Gold (FAU.V) and Mystery Creek Resources Inc have been developing the Nixon Fork Mine since June 2011.

The ramp up to full production targets continues, albeit at a slower pace than we originally had anticipated. From July 4, 2011 to the end of March 2012 the mine produced 25,875 tonnes of ore grading approximately 15.5 grams of gold per tonne; so a total of 12,875 ounces of gold were mined. From this feed, 175 tonnes of copper concentrate has been sold to Glencore Ltd. containing 5,994 ounces of gold. The dore production over the same period totalled 1,180 ounces of gold.

About 16,500 shares have been traded.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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