Sumatra Copper reports lower Q3 gold, silver production
Friday, October 28 2016 - 07:28 AM WIB
ASX-listed Sumatra Copper & Gold Plc reported Friday that production in the third quarter (Q3) of this year at its Tembang gold and silver project in southern Sumatra reached gold production of 6,145 oz and silver production of 79,354 oz (total of 7,306 AuEq oz).
The third quarter production performance was lower than the second quarter, as previously reported by this portal, where end June quarter gold production was 6,387 oz and silver 91,012 oz (for a total 7,602 AuEq oz of gold equivalent).
Lion said in a statement that gold sales during the third quarter reached 7,233 oz and silver sales of 79,573 oz were higher than production for the quarter with a corresponding decrease in finished metal inventory.
Gold and silver revenue reached US$9.623 million and $1.545 million respectively for total revenue of $11.168 million.
Average realized sales price for gold was $1,285/oz and silver of $17.52/oz.
Editing by Reiner Simanjuntak