Superior Gold Inc. (TSX-Venture:SGI) saw its stock price raise the roof on Maundy Thursday, with the release of first quarter results from the Company's 100%-owned Plutonic Gold operations, located in Western Australia.
What is known as Stope materials measured more than 136,000, compared to 124,000 in the first three calendar months of 2018. The Stope grade produced 2.52 grams of gold per tonne, compared to 2.79 g/t in the prior-year quarter.
For the first half of April – the news release goes on -- the stope grade has averaged in excess of three grams Au/t which is the highest level since 2017. The company boasted finishing the quarter with a strong cash balance of $16.2 million.
CEO Chris Bradbrook said: "The first quarter of 2019 was important for the Company as we put in place measures to improve operational performance relative to both the fourth quarter and full year of 2018. These included improving both equipment availability and the underground stope grade and minimizing dilution."
The Toronto-based Superior promises to releasing complete financial and operating results for the first quarter before market open on May 14.
Meantime, investors pushed the stock price up seven cents, or a whopping 13.5%, to 59 cents, on a healthy volume of 175,000
