Straits updates Indonesian gold project
Monday, September 6 2010 - 08:56 AM WIB
Targeting 300,000 ounce/5 year mine life
? Production of 45,521 ounces of Gold in line FY2009 performance
? Plant throughput 1.25Mtpa (capacity)
? Cash costs of US$1,196/oz
- Impacted by lower grades as recapitalisation program commenced
- Ongoing improvement programs underway to reduce costs and improve efficiencies
- Reduced costs expected in FY2011
? US$20 million investment program approved targeting 300,000 ounce 5 year mine life
? Commenced cutback and mining of Serujuan open pit
? Start development of Soan underground
? Scaled up exploration activities
? Longer term targeting 80,000 ounces production by 2013/2014
? Exploration ? Target depth extensions to known fertile, significant gold producing structures. Structures tested to relatively shallow (<150m) depth. Systems known to extend well over +400m vertical depth.
? Historically Mt Muro was a significant gold producer. Aurora recovered 1.3Moz gold along with +20Moz silver (1.7Moz gold equivalent) from a number of open pits feeding into a centralised plant prior to SRL involvement with the project
? Straits added to the resource inventory with exploration success at Tasat/Rabu, & Botol/Tagape/Soan/Sinter systems (+500Koz)
? The Mt Muro field will be a +2Moz gold producer once the current mine plan is executed by SRL over the next 5 years<
? What makes Mt Muro even more attractive than other low ?sulphidation epithermal systems is that the majority of the mined systems have only been exploited to a depth of ~100 m vertical with the deepest pits only 150m. Typically epithermal gold windows are known to extend over 300-400m vertical extent. (end of excerpt)
| Production Statistics | Full Year 2010 | Full Year 2009 | ||
| Overburden (bcm) | 2,131,050 | 2,666,907 | ||
| Ore mined (dmt) | 602,563 | 622,100 | ||
| Ore feed to plant (dmt) | 615,544 | 652,050 | ||
| Gold grade (g/t) | 2.56 | 2.62 | ||
| Silver grade (g/t) | 12.41 | 24.55 | ||
| Gold recovery (%) | 89.67 | 88.70 | ||
| Silver recovery (%) | 58.92 | 60.20 | ||
| Gold production (oz) | 45,521 | 48.846 | ||
| Silver production (oz) | 413,496 | 304,360 | ||
| Resources | Measured | Indicated | Inferred | Total |
| Tonnes (kt) | - | 13,200 | 3,900 | 17.100 |
| Au (g/t) | - | 1.4 | 1.2 | 1.3 |
| Ag (g/t) | - | 43 | 16 | 36 |
| Reserves | Proved | Probable | Total | |
| Tonnes (kt) | - | 1,900 | 1,900 | |
| Au (g/t) | - | 3.4 | 3.4 | |
| Ag (g/t) | - | 64 | 64 | |
| Au recovered (oz) | 190,500 | 190,500 | ||
| Ag recovered (oz) | 2,700,000 | 2,700,000 | ||