PERTH (miningweekly.com) – The now defunct Chatree gold mine, in Thailand, produced 19 377 oz of gold and poured 17 778 oz of gold during the December quarter, before mining ceased at the end of the year.
ASX-listed Kingsgate said on Friday that it had sold 19 040 oz of gold during the three months.
This compared with the 39 742 oz of gold poured in the September quarter, and the 29 905 oz of gold sold during the same quarter.
Production at the mine ceased on December 31, in compliance with the requirements of the Thailand government, and the company is now proceeding with rehabilitation of the site.
The mine is currently debt free, and Kingsgate noted on Friday that the company’s remaining corporate bank debt facility of A$5-million was scheduled for repayment at the end of January.
At the end of January, following the repayment of the corporate debt facility, Kingsgate will have some A$38-million in cash.