Paynes Find Gold has enjoyed a solid rise on the ASX today, after it said it had begun producing gold at its namesake operation.
The company said the alluvial gold production from surface workings would immediately produce revenue for the company, while also reinforcing the potential for an open pit development.
At 1:00PM, WST, Paynes Find shares were up 18 per cent, trading at 1.3 cents.
It said it expected to pour its first gold bar within weeks.
The company’s Payne Find gold field covers around 940 hectares , around 100 kilometres south of Mt Magnet.
Paynes Find is currently conducting a geochemical soil sampling survey at the project, with the results expected in early April.