Wednesday, 29th October 2008 (499 views)

Ascot Mining has predicted that its annual gold production will rise to 100,000 ounces within the next four years.

In its latest financial report, the mining company claims that its current market capitalisation stands at £9.13 million.

Ascot Mining has announced that it has raised £0.6 million through a share placing and is producing high grade gold at 0.34 to one ounce per tonne.

The firm now has gold mining operations in Costa Rica, including the Tres Hermanos Gold Mine, the Chassoul Gold Mine and the El Recio Gold Mine, with production imminent at Chassoul.

Ascot Mining has also revealed that its operations have expanded in just three years from a business plan to a gold mining company by fast tracking late stage projects into production, with its first gold poured in September 2007.

Infinito Gold is also exploring Costa Rica in the hope of discovering and developing major new sources of gold in the country.

 

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