Glencar Mining PLC
5 March 2001
Glencar Mining plc ('Glencar')
Wassa update
Production
The production figures for the Company's Wassa mine in Ghana, for January and
February 2001, have been below expectation. The number of ounces produced for
these periods was 7,600 and 5,700 respectively. These levels of production
were caused by technical difficulties at site, primarily with the leaching
process.
Other matters
Given the current gold market environment, the Directors believe it is
unlikely that Glencar will recover any of its investment in this project.
5 March, 2001
Ends
For further enquiries:
Hugh McCullough:
Glencar Mining plc Tel: 00 353 1 661 9974