Gold-Ore Announces First Quarter Results For Its Bjorkdal Mine

Gold-Ore has announced that production from its wholly-owned Bjorkdal mine in Sweden has increased from the same quarter a year ago. For the first quarter of '09, ending Feb. 28th, 10,361 ounces of gold were recovered. For the first quarter of '08, 6,026 ounces were produced. Despite a winter production slowdown, production is on track to be significantly higher than in FY '08. The report pre-dates Gold-Ore's financial statements for 1Q '09, which will be released before the end of this month.

The market took well to it, although not immediately. The first trade, more than a half an hour after market's open, went at 44 cents, unchanged from Friday's close. The next trade pushed the stock up a penny, and Gold-Ore shares continued on the upside for the rest of the morning. As of 12:00 PM ET, it had hit its high of the day at 46.5 cents.

The Google Finance page for Gold-Ore Resources is here.

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