Kingsrose reports lower Q4 output at Talang Santo mine
Wednesday, January 28 2015 - 02:49 AM WIB
ASX-listed Kingsrose Mining Ltd said Wednesday that gold and silver production at its Talang Santo mine in South Sumatra during the fourth quarter ending December of last year respectively reached 5,465 and 16,870 ounces, lower than earlier quarter production.
The company said in a statement that internal shaft reached the 4 Level in mid-December as scheduled and establishment of infrastructure to access ore drives commenced.
It added that preliminary site works completed in preparation for the establishment of a second shaft at Talang Santo to access the 5 Level providing access to the higher grade section s of the main ore body.
Talang Santo mined grade progressively increased with a 9.5g/t Au reconciled head grade for December with expectation of continued improvement in the March quarter.
The company said that FY2015 guidance has been revised downwards in November related to delays in production ramp up.
Elsewhere, the company said underground diamond drilling at Talang Santo continued with intersections in the Splay, Mawi, Hanging Wall and Silver veins with a broad zone of alteration in Silver veins.
During the quarter the company sold 5,884ounces of gold at an average gold price of A$1,346 and realized A$ 7.92M in revenue.
The cash costs of production for the quarter were US$ 780/oz and the all-in sustaining costs of production were US$1,208/oz.
All in-sustaining costs are expected to reduce and fall within guidance range as mine production increases.
Table: Quarterly production performance
|
Units |
September 2014 Quarter |
December 2014 Quarter |
Year to Date |
Ounces Produced (Gold) |
Oz |
6,590 |
5,465 |
12,055 |
Ounces Produced (Silver) |
Oz |
21,137 |
16,870 |
38,007 |
Editing by Reiner Simanjuntak