Rusoro Mining Ltd. reported that it has achieved record gold production at historically low cash costs at its Choco 10 mine for November 2008. The Company also reports that operations at the Isidora mine continue to exceed its expectations. Both mines are located near the town of El Callao in Bolivar State, Venezuela. Recent production highlights include:
- Record Production. The Choco 10 mill produced 13,475 oz of gold in November 2008. This marks a monthly record for 2008 and can be attributed to a record month of ore processed from the Choco 10 mine which produced 9,170 ounces of gold with the other 4,305 ounces of gold coming from ore processed from the near-by Isidora gold mine.
- Record Cash Costs. Cash costs at the Choco mill were a record low for November at US$385 per ounce of gold. The vast improvement is the culmination of a number of initiatives which include, improvements made to the haulage fleet availabilities, mill availabilities and
optimization of the primary mine haulage contract.
- Record Ore Processed. The number of tonnes of ore processed through the Choco 10 mill has
continued to impress with 193,796 tonnes processed in November.
Rusoro President, George Salamis states, "The Company is extremely encouraged that the months of hard work by Rusoro's operations team to optimize production at Choco 10 have resulted in the operations reaching these milestones. We have a number of initiatives that are on-going and the Company is optimistic that further reductions in our operational cash costs are achievable at the mines."
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