Making Some Decent Numbers
Look out Liz, they are starting to make some strides.
TRIVALENCE MINING CORPORATION (CDNX:TMI, OTCBB:TMIGF) The Company is pleased to report diamond production for the quarter ending September 30, 2000. Production was derived from the Aredor Mine in Guinea West Africa and the recently opened Palmietgat Mine in South Africa and totaled 16,027.22 carats. This is an 86% increase over diamond production for the same period ending September 30, 1999. Revenue from diamond sales for the quarter was US $5,211,362 up 78% over the same period ending September 30, 1999. A breakdown of production is as follows:
Quarter Ending
Sept. 30, 2000 Tonnes Processed Carats Recovered
Aredor Mine 209,097 15,408.66
Palmietgat Mine 8,783 618.56
Operations at Palmietgat began on September 18, 2000. The plant is presently in its commissioning phase and production levels will be increasing through the present quarter to rated levels of 200 tonne per hour or approximately 60,000 tonnes per month. The Company is extremely encouraged by those increased production levels and is currently implementing an expansion phase at the Aredor Mine in which the Company will strive to increase production by 40,000 tonnes per month.
Trivalence Mining Corporation is a publicly traded mineral exploration and development Company with a primary focus on diamonds. The Company owns an 85% interest in the Aredor diamond mine in Guinea, West Africa, and a 50% interest in the Palmietgat kimberlite diamond mine in South Africa. In addition to its investments in the Aredor and Palmietgat mines, Trivalence is conducting Kimberlite exploration programs at the 1,012 square km Aredor concession, the 3,700 square km Kokong property in Botswana and the 52 square km Weymouth property located at Ungava Bay Quebec, Canada.
The Palmietgat Mine looks a bit like a dog. Same 7 cpht as Aredor but not the same valuations.
Still Liz, you gotta like. They make revenue (and I believe eps for the quarter should be ~ $0.10 Canadian).
Just wanted to keep you in tough.
Cheers |
