Monday, 20th March 2006 (2580 views)

Avocet Mining has announced an increase in gold resources at Zeravshan Gold Company's (ZGC) Jilau operations in Tajikistan from just over 800,000 ounces to more than 2.7 million.

ZGC is to announce a new mine production schedule based on the increased resource figures by May 2006. The company is looking to ramp up gold production significantly beyond the current planned output of 85,000 ounces per year.

It is expected that operations at Jilau will reach consistent high grade ore by this summer, which should lead to a break even cash flow and a pick up in gold production from its current level of 3,000 ounces per month.

Mining company Avocet increased its equity stake in ZGC from 49 per cent to 75 per cent in November 2004, after which the company began expanding and refurbishing operations with the aim of increasing gold production.

Avocet's principal activities are gold mining and exploration in Tajikistan, Indonesia and Malaysia.

 

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