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Tiger Resources Rings In Record Production At Kipoi Copper Project

Tiger Resources (ASX: TGS) has delivered a new quarterly production record at its 60%-owned Kipoi copper project in the Democratic Republic of Congo.

Tiger produced 12,123 tonnes of copper in concentrate from its heavy media separation plant for the September quarter, which is an impressive 35% above the plant's nameplate capacity and 9% higher than the previous quarterly production record.

The breakdown for the quarter has Tiger producing 4,020 tonnes in July, 3,998 tonnes in August, and 4,105 tonnes in September.

The 2013 calendar year production to date totals 32,727 tonnes of copper in concentrate.

Brad Marwood, managing director, commented: "Our Kipoi plant continues to impress us with its ability to operate consistently above its nameplate capacity.

"It is pleasing that we have been able to achieve two consecutive quarters of record production."

The Kipoi Mining Licence covers an area of 55 square kilometres and contains a 12 kilometre-long extensively copper-cobalt mineralised segment Upper Roan sediments. The project hosts five known copper deposits known as Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe.

Stockpiles

By the end of September 2013 copper stockpiles at Kipoi increased to 4.7 million tonnes at 2.5% for 115,300 tonnes contained copper.

The stockpiles will be used for feed for the Stage 2 solvent-extraction electro-winning plant in 2014 and 2015.

Fourth largest ASX listed copper producer

Tiger is the fourth largest ASX listed copper producer by volume and forecasts 41,000-43,000 tonnes of copper production in 2013.

The company said that full production and operating costs will be detailed in the company's September quarterly activities report to be released later this month.

Analysis

The latest boost in production further enhances Tigers corporate appeal, as Chinese groups and banks are actively seeking copper producers with low quartile costs.

Proactive Investors values Tiger at between A$0.58 to A$0.76 per share.

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