The company said it has drawn down the second $6m tranche of the project finance facility following the success of the Phase 1 refurbishment and reaching the target production rate of 30,000 oz gold per year.
Freda Rebecca produced gold at an average rate of 2,741 oz per month for the three months to the end of June and 3,937 oz were produced in July this year.
The company is expected to achieve the Phase 2 target production rate of 4,167 oz of gold per month in September 2011.
