Liongold

Liongold: 4Q sales at $56.14m. Grp dug up 27,512oz of gold from its Ballarat gold mine for FY12, and sent 146k tons of the ore, at an average grade of 7.4 grams / ton, for processing with 86% avg gold recovery rate. CEO highlights Ballarat has made the transition from explorer to producer and is targeting an annualised production rate of between 40,000-50,000oz ounces in 2013. Average annualised rate for 9M to Dec was 30,000pz pa. Grp also announced it raised its stake in Australia-listed Citigold Corp to 17.69% from 10.09%.