Sumatra Copper plans higher gold, silver production this year
Friday, January 20 2017 - 06:35 AM WIB
ASX-listed Sumatra Copper & Gold plc has set a higher gold and silver production target form its Tembang gold and silver operation in Indonesia?s southern Sumatra in 2017 with production guidance of 45,000 - 55,000 oz AuEq.
?Full year 2016 guidance (was) met with 30,509 oz AuEq produced,? the company said in a statement on Friday, adding that it managed to deliver record gold production in the fourth quarter of 7,307 oz and silver production of 100,482 oz (total of 8,685 AuEq oz).
Sumatra Copper reported gold sales for the quarter ending December of 7,394 oz and silver sales of 100,150 oz.
Meanwhile, gold and silver revenue for the quarter was US$8.998 million and $1.674 million respectively, making total revenue of US$10.672 million.
Average realized sales price for gold stood at $1,217/oz and silver at $16.71/oz.
Near mine exploration activities remained focussed on advancing priority targets in the Tembang Exploration Target Pipeline towards drill testing, the company said.
Editing by Reiner Simanjuntak