Sumatra Copper & Gold reports production from Tembang project
Monday, February 1 2016 - 07:28 AM WIB
ASX-listed Sumatra Copper & Gold said Monday that gold production in the fourth quarter of last year at its Tembang gold and silver project in southern Sumatra reached 2,743 oz, while silver production reached 63,992 oz, reflecting ramp-up of operations.
The company, which poured its first gold at the Tembang project in the quarter, also reported gold recovery of 84.7 percent and silver recovery of 70.1 percent.
The company said in a statement that finished product stocks reached 1,331 oz of gold and 17,717 oz of silver at quarter end.
Elsewhere, Sumatra Copper & Gold said that gold sales volume during the quarter was 804 oz, sold at spot at an average price of US$1,063.26/oz, and silver sales volume was 32,151 oz, sold at spot at an average price of US$14.00/oz.
Total gold and silver revenue of US$0.855 million and $0.45 million respectively for total revenue of $1.305 million, the company added.
Editing by Reiner Simanjuntak