Analyst Research Report Snapshot

Title:

ANGEL MINING - FIRST GOLD

Price:

$10.00

Provider:

Edison Investment Research

Date:

16 Mar 2010

Pages:

5

Type:

AcrobatPDF

Companies referenced:

ANGM.L

Available for Immediate Download
Summary:

Earlier this month, Angel Mining announced that gold has been poured for the first time from its Nalunaq gold mine in Greenland. The pour, which actually occurred on 28 February, was slightly behind the initial timetable set out by the company after it acquired the mine in July 2009, with the result that the resulting revenue will fall in FY11, rather than FY10. Nevertheless, it remains well within reasonable tolerance levels, given the nature and scale of the undertaking, which involved being granted a mining licence, designing a process plant, sourcing its components, building an in-mine chamber, constructing foundations and installing and commissioning the plant.

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