Avocet reports higher gold production at N. Sulawesi mine
Wednesday, October 31 2007 - 07:46 AM WIB
UK miner Avocet Mining PLC reported Wednesday that April-September 2007 gold production from its North Lanut mine in North Sulawesi increased 66 percent to 38,866 ounces compared same period in previous year.
The company attributed the increase to the operations of all weather haul trucks that allowed the operation to take full advantage of significantly higher grades currently being mined.
Cash costs at North Lanut of US$265/oz were 21% better than the prior year reflecting higher production as well as targeted improvements in haulage productivity, drilling and the use of emulsion explosives to achieve better fragmentation in blasting operations, the company said.
The company has 80 percent stake in North Lanut mine. (alex)