Pearl Gold AG provided its first monthly update on the current situation and state of production at the Kodiran gold mine, in which Pearl Gold holds a 25% stake. The management of gold mine operator Wassoul'Or announced the following production figures. The processed raw material in January amounts to 64,100 metric tons.

The sum of extracted gold is 22,000 grams. The initial gold grade was stated at 2.01 grams per metric ton and the tailings gold grade is at 0.41 grams per metric ton. For the month of January, the amount of processed raw material was originally projected at approximately 200,000 metric tons. Thus, the gold mine was able to deliver around 30% of the planned production.

Production figures are lower than anticipated because of shortages of Diesel fuel supply at the Kodiran gold mine. This can be attributed to a heavy shortage on the Diesel market, which faced exceptional demand from the military services. Due to the usage of Diesel powered generators the Diesel fuel shortage led to an interruption in production.

Highlights: Anticipated processed raw material: 200,000 metric tons - Actual processed raw material: 64,100 metric tons - Initial gold grade was stated at 2.01 grams - Tailings gold grade is at 0.41 grams - Extracted gold before smelting: 22,000 grams.