Kingsrose reports lower output at Talang Santo gold, silver mine
Friday, February 3 2017 - 05:12 AM WIB
Courtesy of Kingsrose
ASX-listed Kingsrose Mining Limited reported Wednesday production of 1,786 ounces of gold at 5.4 g/t Au from its Talang Santo mine in South Sumatra Province in the fourth quarter of this year, down 32.8 percent from 2,660 ounces in the third quarter.
The company also reported production of 4,915 ounces of silver at 16 g/t Ag, down from 5,072 ounces in the third quarter.
Kingsrose said in a statement that during the quarter the company sold 2,736 ounces of gold at an average gold price of A$1,614/oz and realized A$4.416 million in revenue.
The cash costs of production for the quarter were US$2,017/oz and all-in sustaining costs of production for the period were US$3,179/oz.
?Production continued to be impacted by capital development delays, lack of established production horizons, and mine plan redesigns,? the company said in the statement.
It added that reliability of primary pumping station on the 4 Level much improved, however, ongoing water ingress at the working face continued to hamper productivity.
Editing by Reiner Simanjuntak