Great Basin likes Burnstone's future

摘要

Struggling miner Great Basin Gold (GBG-T, GBG-N) got a much-needed share-price boost after releasing production and exploration updates on its two operating gold mines.At the Burnstone mine in South Africa, where unmineral-ized faults have delayed production ramp-up, the company expects it could produce up to 100,000 oz. gold at US$1,000 per oz. gold this year.At its Hollister mine in Nevada, Great Basin expects to produce the same amount of gold as at Burnstone, but at US$750 per oz. gold.The numbers show a much brighter future than what the company experienced last year at Burnstone, where Great Basin spent US$1,780 per oz. on 23,400 oz. gold extracted from the mine.