Miner to reveal extent of new gold reserves discovered in Fiji

Vatukoula is expected to announce a bumper find of gold tomorrow.

The miner, which is listed on the Alternative Investment Market, wants to expand its main asset, the Fijian mine of the same name that produces 40,000 ounces a year. Its chief executive, David Paxton, is expected to tell the market the company drilled 10 holes in the area, all striking gold.

Shares closed at 2.39p on Friday, down nearly 4 per cent on the start of trading.