Business
Business Update
Business Update.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n Templar Minerals Limited 19 May 2008 \nFor immediate release 19 May 2008\n\n\nTemplar Minerals Plc \n(\"Templar\" or the \"Company\")\n\nFirst Gold pour at Fiji Gold Mine after recommissioning\nTemplar Minerals notes the announcement made by River Diamonds PLC (\"River Diamonds\") today confirming that its 100%-owned Vatukoula Gold Mine (\"the Mine\" or \"Vatukoula\") in Fiji has today had its first operational gold pour of 641 ounces since the Mine was placed on care and maintenance in December 2006.\nTemplar Minerals currently holds 285,000,000 ordinary shares in River Diamonds representing 16.9% of River Diamond's issued ordinary share capital. As announced on 8 May 2008, Templar agreed to purchase a further 143,290,000 ordinary shares in River Diamonds which when aggregated with its existing interest would take the holding to 25.42% of River Diamonds' issued ordinary share capital. This latter transaction has not yet completed and a further announcement will be made in due course.\nRiver Diamonds made the following announcement:\n\nRiver Diamonds is pleased to announce that its 100%-owned Vatukoula Gold Mine (\"the Mine\" or \"Vatukoula\") in Fiji has today had its first operational gold pour of 641 ounces since the Mine was placed on care and maintenance in December 2006.\nThe gold poured was from concentrates from the recommissioning of the mill's floatation, roaster and calcine circuits, which were brought on line on 8 May 2008.\nThis pour, which totalled 779.2 ounces of gold ore (comprising 641 ounces fine gold and 121 ounces of fine silver), is in-line with production targets and represents the final step in the recommissioning of operations at the Mine.\nGold that is currently being recovered through the mill's carbon-in-leaching circuit and accumulated on carbon will be added to the gold pours over the coming weeks.\nOperations within the Mine, whilst still experiencing some inevitable \"teething issues\", have now reached a steady-state condition. Ore from both the underground and open pit operations is now being supplied to&n...