South Africa's junior gold miner Aflease Gold said on Tuesday it aims to produce 500,000 ounces of the metal per year in five years based on the company's current assets.
Aflease Gold's Chief Executive, Neal Froneman, also said during a visit to the company's Modder East mine that he saw gold rising to above $1,000 an ounce within six months. The metal had potential to rise even further after that, he said.
We are confident about our ability to raise finance, Froneman said at a presentation at the mine.
The bull market from a gold perspective is intact and is only starting to heat up.
(Reporting by Agnieszka Flak; Editing by James Macharia)
(c) Reuters 2009. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.