Avocet reports slightly lower gold production from Sulawesi mine
Thursday, May 5 2011 - 07:04 AM WIB
Heavy rainfall throughout the period impacted both mining operations, as pit floors became waterlogged, and treatment operations, as additional reagents were required to counteract the dilutive effects of rain on the leach solution, the company said in Quarterly Report.
Cash costs rose to US$759 per ounce in the quarter, which reflects the lower gold production levels, as well as higher fuel and reagent prices.
During April, a strike among the North Lanut workforce resulted in the loss of approximately 3,000 ounces of production, it added. (romel)
| 2010 | 2011 | ||||
| Q1 | Q2 | Q3 | Q4 | Q1 | |
| Production Statistics | |||||
| Ore mined (tonnes) | 415,000 | 295,000 | 305,000 | 341,000 | 298,000 |
| Waste mined (tonnes) | 392,000 | 428,000 | 380,000 | 335,000 | 291,000 |
| Ore and waste mined (tonnes) | 807,000 | 723,000 | 685,000 | 676,000 | 589,000 |
| Ore treated (tonnes) | 265,000 | 267,000 | 368,000 | 400,000 | 366,000 |
| Average ore head grade (g/t Au) | 1.93 | 1.70 | 1.92 | 1.88 | 2.06 |
| Process recovery rate | 69% | 77% | 54% | 53% | 50% |
| Gold produced (ounces) | 11,370 | 11,184 | 12,311 | 12,715 | 12,148 |
| Cash costs (US$/oz) | |||||
| Mining | 330 | 343 | 329 | 383 | 412 |
| Processing | 155 | 172 | 177 | 186 | 201 |
| Royalties and overheads | 150 | 163 | 151 | 153 | 146 |
| Total cash cost | 635 | 678 | 657 | 722 | 759 |