Great reserves update after the bell So what we worth in a takeout, now? Cheers, Dave.
La Mancha's Measured and Indicated Resources More Than Double to 4.8 Million Ounces of Gold Equivalent
PARIS--(Marketwire - March 26, 2012) - La Mancha Resources Inc. (TSX: LMA.TO - News)
All amounts are in CAD dollars, unless otherwise indicated.
HIGHLIGHTS:
Consolidated P&P gold reserves increased by 316,315 oz (+52%) to reach 929,150 oz Consolidated M&I gold equivalent resources increased by 2,805,818 oz (+140%) to reach 4,811,600 oz Hassai mine's attributable gold reserves increased by 267,930 oz (+205%), mainly due to Hassai CIL Feasibility Study Hassai mine's VMS attributable gold-equivalent M&I resources increased by 2,790,834 oz (+2,803%) Frog's Leg mine's attributable gold P&P reserves increased by 106,138 oz (+36%) due to upgraded mine plan Ity mine attributable P&P reserves decreased by 57,748 oz (-41%) to reflect reconciliation problems between mine plan and actual mining activity until the new mine plan is finalized in Q4 2012
Dominique Delorme, President and CEO of La Mancha, noted that: "We are very proud of this new reserve and resource statement as it summarizes the effort made over the past few years to create significant value for our shareholders. Having quadrupled our resource base to nearly 5 million ounces of gold equivalent since 2007, it is exciting to see that this appears to only be the beginning, as we are just starting to scratch the potential at our Hassai property, where nine more VMS targets remain to be explored."