GMA Resources PLC (AIM: GMA) said the Amesmessa gold mine in Algeria produced 3,401 ounces of gold and 654 ounces of silver in March 2009, the highest monthly gold production the mine has ever produced.
First-quarter production rose to a total of 9,829 ounces, compared with 5,292 ounces in the fourth quarter of 2008.
Chief executive Douglas Perkins said: “We are pleased with the 86 percent increase in gold production from Q4 2008 to Q1 2009 and anticipate that Q2 2009 will show another quarterly increase over Q1 2009.”
GMA owns a controlling 52 percent stake in ENOR spa,, the Algerian based operating company for the Amesmessa project, with the remainder owned by Sonatrach, the state-owned oil and gas company.
