Friday, September 14, 2007

Glencairn says cyanide concentrations reduced at Bellavista mine in Costa Rica

TORONTO (Canadian Press) - Glencairn Gold Corp. says company and independent testing shows cyanide concentrations at its Bellavista mine in Costa Rica "are now at acceptable levels" and pose no threat to the environment.

The statement late Thursday comes after the company's shares fell 16 per cent Wednesday on environmental groups' warnings that there could be cyanide seepage and landslides at the mine.

A coalition of environmental and human rights organizations said it wanted Glencairn to disclose information about suspected cyanide and metals pollution from the mine, which the company shut down in July over concerns about the potential impact of ground movements in the area attributed to high levels of rainfall.

CEO Peter Tagliamonte told The Canadian Press in an interview Wednesday there was no risk of cyanide being injected into the environment because "we rinsed it out."

He said the company had been working from the beginning to ensure there would be no damage to the environment and has been keeping the public updated on its problems.

"The company moved proactively to suspend mining operations on July 25 and then implemented environmental protection measures to ensure cyanide used in the heap leach processing on the site was rinsed from the site's leach pads and the cyanide destroyed," Glencairn said in its release after markets closed Thursday.

The company's shares closed unchanged Thursday on the Toronto Stock Exchange at 16 cents on a volume of 1.6 million shares.

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