Eastern Goldfields Ltd share price rockets 52%

The Eastern Goldfields Ltd (ASX: EGS) share price has been one of the biggest movers on the market today.

At the time of writing the junior gold miner’s shares are up 52% to 31.2 cents.

What happened?

This morning the company announced that mechanical, electrical, and water commissioning of the Davyhurst mill is now complete.

As a result, all circuits are now operational and continuous ore processing has commenced at the site.

According to the release, the first gold pour from the gravity circuit is scheduled for Wednesday July 19 and the first leach circuit gold pour has been scheduled for Friday July 21.

Despite the massive gain in its share price today, the gold miner’s shares are still down over 11% in the last five trading sessions.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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