Photo by: Bloomberg
PERTH (miningweekly.com) – ASX-listed gold miner Kingsgate Consolidated has reported record production for the full year ended June on the back of a strong fourth quarter.
The miner said on Friday that it had delivered 55 450 oz of gold during the three months to June, up from the 48 725 oz in the previous quarter, taking its full-year production to a record 209 500 oz, which was at the upper end of the production guidance of between 190 000 oz and 210 000 oz.
Kingsgate noted that the Chatree operation, in Thailand, had delivered a solid quarter, increasing production by 15% on the previous quarter to 36 475 oz, as higher-grade ore was accessed at the project.
Yearly production at Chatree was up 3.5% on the previous financial year, with the mine producing 134 546 oz in the full year.
At the Challenger gold mine, in South Australia, gold production was in line with expectations at 18 975 oz.
Looking ahead, Kingsgate was expected to produce between 195 000 oz and 215 000 oz during the 2015 year, including between 130 000 oz and 140 000 oz from Chatree, and between 65 000 oz and 75 000 oz from Challenger.