Firstgold Corp. has poured the first gold dore from its Relief Canyon gold mine in Nevada, a critical milestone for the Cameron Park company.
The company has processed carbon from the mine, with a dore bar containing 13.6 ounces of gold and 42 ounces of silver were poured, Firstgold founder and chief operating officer Scott Dockter said. The metals are poured into dore bars, which are later moved to refineries for further production.
“While the quantity is not indicative of regular run rates, achieving this milestone officially makes Firstgold a gold-producing company with a revenue source,” he said in a news release. “Now, it is only a matter of time for the grades to build and production to reach its full capacity at Relief Canyon.”
Firstgold has spent about $16 million developing a processing facility during the past two years at the mine near Lovelock, Nev.
Separately, Ed Baer will not become a board member, citing possible conflicts of interest.
Shares of Firstgold (OTCBB: FGOC.OB) dipped 1 cent — or 5 percent — to 19 cents in trading Tuesday.
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