Shares jumped after the company said it had submitted additional technical studies to environmental and natural resources authority for permitting approval at its La India project.
Gold production for the three months to June dropped 36% to 133,778 ounces as operations at two its three mines - Bulyanhulu and Buzwagi – were scaled back.
The ex-head of iron ore business in China, Stern Hu, spent almost nine years in a Shanghai prison after a 2010 conviction for corruption and industrial espionage.