Minmet up gold estimate by 31%

ISEQ-listed exploration and mining company Minmet has announced a 31% increase in the estimate of gold reserves at its Bjorkdal mine in northern Sweden.

The company said in a statement to the Irish stock exchange that there is a significant increase in the gold grade of 23%.

Despite the recent volatile nature of the gold price in US dollars, the gold price in Swedish Kronor (SEK) achieved its highest level in April 2004 since January 2003.

Minmet said the "Bjorkdal mine has benefited from the relatively strong SEK gold prices".