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01.11.2003 Business & Finance

Mines to spend $60mn on gold treatment plants

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Bogoso (W/R), Nov. 1, GNA - Golden Star Resources (GSR), main shareholders of Bogoso Gold Limited (BGL), New Century Mine Prestea and Wexford Goldfield Limited (WGL), Wassa Akyempim is to spend 60 million dollars to install gold treatment plants at Bogoso Prestea and Wassa Akyempim.

It is undertaking technical and environmental studies for the installation of carbon-in-leach plant on the Prestea mining lease and converts Bogoso plant to process refractory ores. Currently, the company is constructing a carbon-in-leach plant at WGL at Wassa Akyempim, which is expected to commence gold production in early 2004.

Mr Peter Claringbull, the outgoing General Manager of BGL disclosed this in an interview with Ghana News Agency at Bogoso mine site.

He however, expressed concern about the operations of illegal mining, popularly known as "galamsey" on the Prestea concession. Mr Claringbull said creditors provided the money for the investment and it does not paint a good picture, when the creditors come and see the galamsey operations.

In a related development, GRS has completed the acquisition of the Birim Goldfields Inc's right to the Esikumah and Mansiso prospecting licenses in Ghana.

When the known reserves at Mampon are added to Sikuma and Mansiso, the company's land position will now stand at 122 square kilometres of prospective exploration ground including 45 kilometres of strike on Ashanti trend.

This increases the strike length contiguous with Bogoso/Prestea to 85 kilometres in addition to a further holding of 15 kilometres strike at the northern end of the trend.

These were contained in a press release signed by Mr Peter Bradford, President and Chief Executive Officer of GRS.

Commenting on the Birim transaction, Mr Bradford said it has "significantly increased the exploration potential within trucking distance of processing facility, adding," we now have sufficient reserves to justify an expansion at Bogoso/Prestea."

"The proposed expansion would allow us to simultaneously process a number of ore types so that we can maximise scheduling flexibility as well as optimise mining in the area", he added.

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