Business
Veris Gold Corp. production update for August 2013
Toronto Stock Exchange: VG VANCOUVER , Sept. 9, 2013 /CNW/ - Veris Gold Corp. ("V...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"\n\n\nToronto Stock Exchange: VG\n\n\nVANCOUVER, Sept. 9, 2013 /CNW/ - Veris Gold Corp. (\"Veris\" or the \"Company\") (TSX: VG) (OTCQB: YNGFF)\n (Frankfurt Xetra Exchange: NG6A) is pleased to provide a mid-quarter update regarding production\n improvements at its wholly-owned Jerritt Canyon gold mines and\n processing facility in Elko County, Nevada.  Jerritt Canyon is operated\n by Veris Gold USA Inc., (\"Veris USA\"), a wholly-owned subsidiary of the\n Company.\n\n\nOverall Operational Report\nDuring the month of August the plant averaged over 4,264 tons per\n operating day producing 16,699 ounces of gold (including 2,138 ounces\n from Newmont Mining Corp. (\"Newmont\") toll milling), with an average\n recovery of 85%, continuing to demonstrate significant improvements\n over recoveries achieved earlier in the year.\n\n\nR. Llee Chapman, President and CEO of Veris commented, \"Our team at Jerritt Canyon once again delivered an excellent month in\n August:  We had no accidents or reportable incidents and we mined over\n 93,000 tons of ore from our three underground gold mines; a new record\n for the property.  Most of the ores came from the Small Mine\n Development (\"SMD\") operated Smith and Starvation Canyon Mines as we\n continue to make improvements at the SSX mine to ensure that it meets\n its target of 1,200 tons per day. We are making excellent progress at\n SSX and expect a good fourth quarter from the mine. In the plant we\n processed over 119,000 tons during the month with an average recovery\n rate of 85%. All of this resulted in 16,699 ounces of gold production\n for August of which 2,138 gold ounces are attributed to toll milling\n for Newmont.\"\n\n\nMr. Chapman further commented, \"Under the leadership of Graham Dickson, our COO, the mill is averaging\n over 4,200 tons per operating day and we have had several days over\n 5,000 tons.  Our mines are producing steadily and we now have a secure\n source of toll milling ores.  Furthermore, while our share price is\n still in recovery phase during this difficult market, we have\n nonetheless been able to secure two equity financings, which will\n assist in the ongoing refurbishment of Jerritt Canyon and assist in our\n continued efforts to refinance our debt.  Discussions regarding debt\n refinancing are ongoing and we expect ...