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Roxgold Inc. (TSXV:ROG) released its financial results for the year ended December 31, 2012. In 2012, Roxgold advanced the Yaramoko Gold Project in Burkina Faso, increasing the size of its indicated resource by 94%. The company also established a new board and management team during the Company’s Annual General Meeting in September.
As quoted in the press release:
Recent Highlights and Significant Events:
- Demonstrated high grade gold mineralization to a vertical depth of 900 meters at the 55 Zone
- Increased the size of the indicated resource by 94%1
- Demonstrated average gold recoveries in excess of 97% in preliminary metallurgical testwork2
- Initiated a concession wide regional targeting and drill testing program
- Strong cash position of $8.6 million at year end plus the completion of a $10.5 million private placement in February 2013 ensures that 2013 plans are fully funded
1See press release dated March 04, 2013
2See press release dated December 03, 2012
Roxgold Inc. President and CEO, John Dorward, said:
Roxgold is poised for a significant year in 2013. With the recent capital raise, we have a solid financial position and have built the team to drive progress at Yaramoko. We look forward to delivering a Preliminary Economic Assessment (“PEA”) in the third quarter and reporting the results of continued drilling at the 55 Zone as well as the regional exploration program.
Click here to read the Roxgold Inc. (TSXV:ROG) press release