Akrokeri boosts gold output in Ghana

So far this year, production is up and costs are down for Akrokeri-Ashanti Gold Mines (AAGM-C), operator of a placer mine in Ghana, West Africa.

The company produced about 3,636 oz. gold in January, up from a monthly average of 2,348 oz. last year. The increase was attributed to a shift in production from the Esaase property to the adjoining Jeni property.

Akrokeri-Ashanti owns 85% of Bonte Gold Mines, which operates the processing plant at the Esaase property, as well as 100% of the surface rights and a 50% option on the bedrock rights of Jeni. Trenching and sampling began at Jeni last fall and will continue this year. No significant results have been achieved to date from the hardrock program.

On the mining front, the company is finding higher grades at the Jeni property than previously achieved at Esaase. Mining started at Jeni late last year and, in January, total all-in costs fell to US$240 per oz. from an average of about US$350 per oz. in 1997.

Akrokeri-Ashanti is confident it can reach its production target of 35,000 oz. this year, even after taking into account the downtime associated with plans to move the processing plant to Jeni (from Esaase) later this year.

Last year, the company met its production target for fiscal 1997 of 28,180 oz. gold, up from 21,111 oz. sold in 1996.