Angel Gold production hotting up in cold Greenland

Angel Mining, the Greenland focused gold miner, saw its shares head to the heavens after announcing a further 16.1 kilograms of gold dor was successfully poured at its Nalunaq site earlier this week.

Gold dor is "poured" to make gold bars.

This is the largest pour so far as Angel aims to ramp up production to between 1,500 and 2,000 ounces per month.

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The group's Chief Executive Nicholas Hall commented: "This is the latest step in our steady increase in production at Nalunaq. In December 2011, Nalunaq reached the important milestone of becoming cash generative. We look forward to this cash generation continuing to improve in line with production."

Over the last 12 months Angel's share price has dropped 50% although since December the stock has made a significant recovery, climbing from 0.8p per share to today's level of 2.98p (up 0.45p on the day).

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