Shareholders who attended the annual meeting of Eden Roc Mineral (EDN-T) did not hesitate to express some displeasure at the overall performance of the company’s gold mine in Ivory Coast, West Africa.
Management of the company conceded that, while the open-pit, heap-leach Afema operation did not always live up to projections, better days are at hand.
In May, the company set a new production record of 4,261 oz. from the Junction zone — the highest monthly production ever for Eden Roc, and more than double the 2,022 oz. produced last May.
Production for the four months ended May 31 was 12,219 oz., or 50% higher than in the comparable quarter in the previous year.
Results from an exploration program at the Junction zone include 17.28 grams gold per tonne over 7 metres and 11.9 grams over 5 metres.
The zone has been traced over a strike length of 250 metres and to a depth of 125 metres. The intersections mentioned above are sulphide mineralization.
The oxide mineralization being mined at this time occurs within the first 50 metres from surface.
Eden Roc owns a 68% interest in the joint venture that owns the Afema mine; the remainder is held by the Ivorian government.
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