Gosowong?s gold output rises significantly in Q2

By Romel S. Gurky

Australian firm Newcrest Mining Limited announced on Thursday that the June 2014 quarter production of its Gosowong mine in Halmahera, Maluku was 124,967 ounces of gold and 220,583 ounces of silver in June 2014 with an All-In Sustaining Cost of A$560 (US$522) per ounce.

This compares with the March 2014 quarter performance of 70,562 ounces of gold and 66,005 ounces of silver with an All-In Sustaining Cost of A$846 (US$758) per ounce.

Gold production was 77% higher than the previous quarter primarily due to a 70% increase in gold grade to around 19 grams per tonne associated with mining in higher grade zones at both the Toguraci and Kencana underground mines during the quarter. Mill throughput was 6% higher than the previous quarter while gold recoveries were marginally lower. Gold grades are expected to vary from quarter to quarter depending on the stope sequencing.

All-In Sustaining Cost of A$560 per ounce was 34% lower than the March 2014 quarter primarily as a result of higher gold feed grades and lower sustaining capital expenditure in the current quarter.

Editing by Johannes Simbolon