La Mancha Resources sees 2012 production of up to 130,000 ounces of gold

Canada’s La Mancha Resources Inc forecast higher gold production targets for this year helped mainly by increase in output from its Ity Mine in the Ivory Coast.

The company forecast 2012 gold production of up to 130,000 ounces of gold compared with 121,446 ounces in 2011.

It expects average cash costs of $659 per ounce of gold in the current year.

La Mancha, which operates in Africa and Australia, expects gold production to be 65-83 percent higher at its Ity mine in Ivory Coast as it completes the ramp-up of milling operations there in the first quarter.

La Mancha now expects to produce 27,900 to 31,000 attributable ounces of gold from the Ity mine this year, compared with 16,860 attributable ounces produced in 2011. – Reuters

Tags: Gold, Gold mining, Gold mining companies, Gold mining industry, La Mancha Resources

Posted by admin on Jan 19 2012. Filed under Gold mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry