Wed, 12 Jan 2011 10:32:00 +1000 6 hours, 36 minutes ago
ASX Release January 12, 2011 Focus hits target with production of 21,000oz in December Quarter Focus Minerals (ASX:FML) is pleased to advise that it has hit its production target in the December Quarter, pouring 21,036 ounces at its Coolgardie operations in Western Australia. The result reflects the benefits of Focus’ refurbished Three Mile Hill mill, which had 100 per cent of its capacity available to the Company in the quarter for the first time. The December Quarter built on the September production result of 15,300 ounces and took Focus’ production to 77,000 ounces in 2010, in line with the Company’s previously stated target of 80,000 ounces.
Importantly, production in the December quarter exceeded this target on an annualised basis. Focus Chief Executive Campbell Baird said the latest result showed the Company was well on track to grow production towards an annualised rate of greater than 100,000 ounces for 2011. “This outstanding result shows Focus is delivering on the commitments made to shareholders,” Mr Baird said.
“These included an undertaking that the refurbished mill would underpin growing production at Coolgardie and these figures show that is clearly the case.” Mr Baird said the company will provide full production, operating and cash cost information as part of its December Quarter report later this month. ENDS On behalf of: Released by: Nicholas Read / Paul Armstrong Read Corporate Telephone: (+61-8) 9388-1474 Campbell Baird, CEO Focus Minerals Ltd Telephone: (+61-8) 9215-7888 Web: ASX Release 16 th July 2010 COMPETENT PERSON’S STATEMENT The information in this report relating to Resources is based on work supervised by Dr Garry Adams who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Dr.
Adams has the relevant experience as a “Competent Person” as defined in the 2004 edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves in relation to the mineralisation being reported. Dr. Adams is Exploration Manager of Focus Minerals Ltd and consents to the inclusion of the material in the form and content in which it appears. |
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