Aurora?s IMK gold production falls in Q4
Wednesday, January 30 2002 - 04:11 AM WIB
Australian gold miner Aurora Gold Limited announced on Wednesday that gold production from its Central Kalimantan based wholly owned subsidiary PT Indo Muro Kencana during the fourth quarter of 2001 was 47,645 gold equivalent ounces, a reduction of 16.8 percent over previous quarter.
The company said the decline reflected production difficulties, which are likely to have a significant impact on the 2001 results.
The company said total cash cost of sales for the quarter of A$545 per gold equivalent ounce, an increase 6 percent over the previous quarter.
?Closure of the existing mine which will now occur at the end of the second quarter, continues to be implemented in a planned manner,? said the company in a statement.
The company plans to close its operations in Central Kalimantan this year due to reserve depletion. (alex)