LONDON (ShareCast) - South American-focused gold producer Orosur Mining (Other OTC: OROXF - news) has completed the development a ramp and lateral waste development to enable production at one of its projects.
The company reported that ore development was underway and stoping was planned to commence in the Arenal Deeps area by the end of February.
Completion of the ramp and lateral development is expected to enable the Orosur Mining to access higher grade transverse stope ore for the first time in the last quarter of the financial year ending May 31st.
Fowler: 'milestone' achieved
David Fowler, Chief Executive Officer of Orosur Mining, commented: "I am very pleased to have achieved this important milestone which is a credit to San Gregorio management and employees who have developed the first underground mine in Uruguay over the past two years.
"This achievement has also importantly been achieved during this fiscal year as San Gregorio has transitioned from contractor development to owner operated development to reduce costs."