Kingsrose: Q3 gold output at Talang Santo 6,590 oz
Monday, October 20 2014 - 01:54 AM WIB
ASX-listed Kingsrose Mining Ltd said on Monday that gold and copper production at its Talang Mine in South Sumatra during the third quarter of this year reached 6,590 ounces, and 21,137 ounces, respectively.
The company said in a statement that ramp-up activities at the mine commenced in mid-July following the issuance of the final forestry permit.
During the quarter, the company sold 4,469 ounces of gold at an average gold price of $A1,415 and realized A$6.32M in revenue.
The cash costs of production for the quarter were US$660/oz and the all-in sustaining costs of production were US$997/oz, the company said.
Elsewhere, the company said that mill feed for the period was from a combination of stockpiled ore and mine production and included an additional 1,286 tons of material at 4g/t Au recovered from the floor of the ROM pad. The plant ran without issue for the period at an average throughput of 318 tons per day. The plant is now operating with the SAG mill in duty post reline in parallel with one of the ball mills. Recoveries of both gold and silver continue to exceed expectations, however they are anticipated to reduce slightly at higher through put levels.
Kingsrose operates the Talang Santo mine via its 85 percent owned Indonesian subsidiary PT Natarang Mining.
Editing by Reiner Simanjuntak