Archipelago gold output up
Tuesday, October 30 2012 - 10:30 AM WIB
LSE-listed Archipelago Resources Plc recently stated that it produces 36,184 Au Eq oz of gold with head grade of 2.79 g/t this quarter ended 30 September 2012 (Q3 2012), making a total of 96,570 Au Eq oz for year to date from its Toka Tindung Mine in North Sulawesi.
The strip ratio was lower for Q3 2012 at 5.54:1 against 5.99:1 for the half ended 30 June 2012 (H1 2012), while the average head grade for gold equivalent ounces was 3.02 g/t for Q3 2012 and 2.60 g/t for the year to date.
The company said that full year production guidance is maintained from 135,000 to 145,000 Au Eq oz at a cash cost of between $580 and $640 per Au oz.
"Archipelago recorded its strongest production quarter since Toka Tindung was commissioned in November 2011 and remains on track to deliver on our full year guidance of 135,000 to 145,000 Au Eq oz. Production will remain robust for the rest of the year as mining continues in the high grade deposits of Pajajaran and Kopra," Company Managing Director and CEO Marcus Engelbrecht said.
Editing by Er Audy Zandri