Doray Minerals announces gold inventory increase

Company News

by David Chau

Doray Minerals Ltd (ASX:DRM) has announced its updated Resource and Reserve estimate as at 30 June 2016.

The company’s updated estimate includes a 17% increase to its Group Mineral Resource Inventory, which now totals 1.38 million ounces of gold – across the Andy Well and Deflector Projects.

Doray says that it has increased the total Andy Well Resource Inventory by 33% over the last 12 months.

The gold miner says, since August 2013, the Andy Well has produced over 250,000 ounces of gold and has at least a further 2 years of Reserves remaining.

Doray reported a net profit of $14.5 million at 31 December 2015.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.