September 12, 2009

Gold reserves expand after exploration

La Mancha is a Canadian gold producer that has a 40% interest in the Hassai open pit mine located 450 km north east of Khartoum. That's east of the Nile in the Nubian desert, about 50 km north of Musmar. Some Beja are labourers there.

A news release on September 10 announced a reserve of over 1 million ounces of gold, and confirmed a very rich zone of minerals near the bottom of the current pit.

Investors greeted the news with excitement, and the price of the stock rose almost 20% the same day.

La Mancha trades on the Toronto stock exchange under the symbol LMA.

News Release

Stock Chart

UPDATE: October 16 - stock price has doubled since beginning of August.
UPDATE Feb 2010 - video describing gold production at the Ariab mine. Very good! 15 minutes.

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