Ghana Gold Corporation Announces Production Results and Forecast
PORT ST. LUCIE, Fla., Jan. 29, 2013 /PRNewswire/ -- Ghana Gold Corporation (OTCPINK: GGCO) is pleased to announce that in 2012 it produced a total of 18,878 grams (approximately $50 per gram and $949,573 gross annual revenues) in its first year of production (Production reports are based upon a consolidation of WAP and Ghana Gold Production).
Management's goal is to increase production by 20% in the first quarter of 2013. This will be achieved with the implementation of new equipment and concentration of alluvial efforts targeting expansion to the SW corner of the 133 sq km Jukwa Concession. The Company plans in February to commence mining in its new target zone within the Jukwa where test results have reached 2.5 gpt.
It is important to note that Ghana Gold's business model is to produce alluvial gold while conducting typical Junior Mining testing for hard rock deposits. This strategy maximizes shareholder value with current revenue while proving up additional gold reserves. Testing in the immediate future is planned at both the Jukwa and Ahenkro concessions. Together these two concessions combine to approximately 235 sq. km., both with long term production potential.
Robert Kirkcaldy , COO states, "The Company will be releasing monthly production reports on the second Monday of the following month for the previous month's production." Kirkcaldy also stated, "Revenues will be reported in quarterly filings as the Company continues its path to becoming a fully reporting OTC issuer."
The company's website is www.Ghanagoldcorporation.com.
Robert Kirkcaldy , President and COO
Ghana Gold Corp
For further Information and inquiries please call: 866-340-3095.
FORWARD LOOKING STATEMENTS
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws.
SOURCE Ghana Gold Corporation
More by this Source
Ghana Gold Completes Relocation and Announces February Production Results
Mar 20, 2013, 07:30 ET
Ghana Gold Corporation Announces LOI to Acquire Founders Mining
Mar 01, 2013, 07:00 ET
Ghana Gold Announces Initiative in Reducing Mercury Emission Pollution in Ghana
Feb 21, 2013, 07:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.