Kingsrose's gold production declines in Q2
Thursday, July 25 2013 - 08:07 AM WIB
ASX-listed Kingsrose Mining Limited reported on Thursday that its Way Linggo Gold Project produced 446oz of gold and 10,889oz of silver for the second quarter, falling from 1,395 oz of gold and 15,226 oz of silver in the first quarter.
The company said that it was conducting review involving Project management and company directors.
The following decisions were taken according to the company's quarterly report:
- Implement various measures to fast track development at Talang Santo
- Suspend normal mining activities at the Way Linggo mine in light of the fall in ore production rates and commence a ?step back? review of the Way Linggo mine and its surrounds to find nearby lodes
- Optimize the use of mining and other operations personnel. This resulted in a reduction of 153 personnel
- Continue the suspension of all non essential spending
- Restart exploration activities on a graduated basis once cash flow from production allows.
Editing by Adianto P. Simamora