Olympus Pacific Minerals Inc. announce that the Company has recorded its highest gold production month during December 2008.The initial three-month trucking and toll treatment trial of ore through the Company’s Bong Mieu plant from its second mining operation at Phuoc Son has proved to be successful and recent plant modifications with the treatment of the higher grade Phuoc Son ore resulted in a 50% increase in production to 1500 oz/month. The Company has now installed a series of shaking tables within the processing circuit to capture free gold enabling more efficient processing of the high-grade Phuoc Son ore. Further, plant modifications to enhance efficiencies are expected throughout the 2009 calendar year.
Olympus depleted inventories of its high-grade ore on January 18, 2009, and has requested a permanent trucking permit to source and toll treat high grade ore from Phuoc Son through the Bong Mieu Gold Plant. Once, permission to continue trucking is received the Company expects to resume production at the previously attained higher levels and to become cash flow positive later this year.
Olympus is an equal opportunity employer operating two gold mines in central Vietnam near the port city of Da Nang. The Company employs some 485 Vietnamese representing 90% of Olympus’ work force; the Company injected 20 million USD into the local economy during 2008.
Olympus Pacific Minerals Inc., as first mover in Vietnam, is positioned to become a leading gold producer and explorer in Southeast Asia. Olympus is committed to its vision of producing gold from its reserves and making major discoveries in the region and increasing shareholder wealth.