DIAMOND PAGE — Akrokeri expands plant

Toronto-based Akrokeri-Ashanti Gold Mines (AAGM-C) has expanded and relocated its processing plant at the Esaase property in Ghana, West Africa.

In 1988, the company produced 35,122 oz. gold at the Bonte gold mine on the Esaase property. This year, it expects to increase production to 46,000 oz. gold while substantially lowering costs.

The operation produced revenues of US$2.9 million in the 1998 first quarter, down from US$3.1 million a year earlier. Profits between the two periods slipped to US$289,682 from US$709,048.

Akrokeri-Ashanti owns 85% of the Ghanaian subsidiary that operates the Bonte mine and holds the 30-year mining licence on the Esaase property.