Resolute's gold production drops in Sept quarter
PERTH (miningweekly.com) – Gold miner Resolute has reported a significant decline in production during the three months to September as its Syama operation, in Mali, underwent a major maintenance shutdown in July.
Gold production for the quarter under review declined to 84 274 oz, compared with the 102 685 oz in the June quarter.
The Syama mine produced 28 611 oz during the three months to September, compared with the 51 382 oz produced in the previous quarter. Throughput and production ounces were lower owing to the planned maintenance shutdown on the roaster circuit, which also resulted in cash costs for the operation increasing to $1 085/oz during the quarter.
At the Ravenswood mine, in Australia, gold production rose to 39 051 oz from 34 395 oz in the previous three months. The increase in gold production was ascribed to higher production and grade from the Mount Wright underground operation, as well as an increase in milled tonnes.
At the Golden Pride mine, in Tanzania, Resolute produced 16 612 oz of gold in the period under review, which was on par with the 16 808 oz delivered in the June quarter.
Gold production at Golden Pride would remain at similar levels over the December quarter, with continued high throughput offsetting the marginally lower grades.
Resolute kept its production guidance for the full year unchanged at 345 000 oz, at an average cash cost of A$890/oz.
Meanwhile, gold sales during the quarter came to 106 200 oz. The volume of gold sold was greater than the total production, owing to the sale of gold bullion on hand at the start of the quarter.
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