Red Back advances Tasiast, Chirano

摘要

Solid drillresults and positive metallurgical news from the Tasiast gold project in Mauritania combined with a resource boost at the Chirano gold mine in Ghana lifted Red Back Mining (RBI-T, RBIFF-O) more than 9% in three days, bringing the company's shares to a new high. Red Back bought Tasiast for 225 million US dollars from Lundin Mining (LUN-T, LUNMF-O) in 2007, just as the mine was set to open. The company has increased gold reserves at Tasiast by almost 200% since then, but now drills are hitting new mineralization along strike from and below the defined reserves.