Straits reports lower gold production from Mt.Muro
Thursday, October 25 2007 - 03:01 AM WIB
Australian mining firm Straits Resources Limited reported on Thursday that its Mt Muro gold mine in central Kalimantan produced 9,276 ounces of gold during the September quarter, lower than 9,831 ounces of gold produced in the previous quarter.
The company reported tonnes milled decreased to 87,249 from 95,345 and the head grade increased to 3.55 g/t from 3.49g/t and Cash costs increased to US$771 per ounce from US$657 per ounce.
As in the June quarter lower grades resulted in lower metal production, increasing the cash costs per ounce.
The mine is behind schedule in ramping up production in the new Tasat ore body. However, production is expected to improve in the December quarter, the company said.
The company also reported that exploration activities at Mt Muro have continued with drilling at the Tumbang Lahung area and encouraging results have been returned from two prospects. (alex/denny)
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QUARTERLY PRODUCTION STATISTICS |
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| Units | Sept Qtr 2007 |
June Qtr 2007 |
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| Ore Milled | t | 87,249 | 95,345 |
| Gold grade | g/t | 3.55 | 3.49 |
| Silver grade | g/t | 37 | 33 |
| Gold recovery | % | 92.9 | 91.8 |
| Silver recovery | % | 67.6 | 58.9 |
| Production Gold* | oz | 9,276 | 9,831 |
| Silver | oz | 69,462 | 62,495 |
| Gold Sold | oz | 9,142 | 11,734 |
| * Production reported is gold poured | |||