Proactive Investors - Run By Investors For Investors

Olympus Pacific fourth quarter gold production beats targets


Olympus Pacific Minerals (TSX: OYM, OTCBB: OLYMF) ("Olympus") announced that it exceeded fourth quarter gold production targets at the Bong Mieu Gold Processing Plant, located in central Vietnam. The Bong Mieu plant throughput is currently sourced from two underground mines, Phuoc Son and Bong Mieu.

Actual gold production for December was 3,191 ounces while total gold sales for the year ended 31 December 2009 was 24,200 ounces which generated US$24.3 million in sales.  In the fourth quarter, Olympus sold 10,108 ounces of gold.  Cash flow from production is being channelled back into the construction of a second gold processing plant at Phuoc Son.

Olympus also reiterated its commitment to the company four key projects; Bong Mieu, Phuoc Son, Tien Thuan and Bau which are located in Malaysia and Vietnam.

View full OYM profile View Profile

Olympus Pacific Minerals Timeline

Related Articles

A photo of gold nuggets
December 17 2018
A series of acquisitions has made the Vancouver-based company the third-largest land holder in the Pilbara region, with more than 2,800 square kilometers, 20 exploration licenses and five mining leases
January 09 2019
ECR is building an impressive portfolio of gold exploration assets
September 17 2018
Cradle Arc is ramping up copper production at its Mowana project, and further expansion is on the cards
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use