Anatolia Minerals Development Up More Than 20%.

Shares in Anatolia Minerals Development Limited (ALIAF.PK) were up more than 21% in afternoon trading on Wednesday. 

The company announced on Tuesday that construction has commenced on its Copler Gold Mine in Turkey. Anatolia expects its first gold pour in late 2009 and production to ramp up throughout 2010 to full production in 2011.

The initial phase of the multi-stage Copler development is estimated to produce 1.3 million ounces of gold over an eight year mine life. After the initial ramp up in 2010, remaining life-of-mine cash costs per ounce will average approximately C$290 per ounces per gold.