Photo by: Reuters
PERTH (miningweekly.com) – ASX-listed gold miner Norton Gold Fields has reported increased gold production during the three months ended June, with the miner producing 42 324 oz of gold.
This was up from the 38 600 oz of gold produced in the previous quarter.
For the six months to June, gold production reached 80 923 oz.
During the quarter under review, Norton poured its one-millionth ounce of gold from the Paddington operation, in Western Australia, with the mine estimated to have delivered some 4.7-million ounces since its inception in 1985.
During the month of June, the Paddington mill achieved a record monthly mill throughput rate of 461 t/h, for a year-to-date average of 466 t/h.
During the three months to June, the Paddington mill processed some 933 000 t of ore, at a head grade of 1.59 g/t gold, with an 89% recovery. This included the record milled tonnes of 336 000 t in May.
Some 41 632 oz of gold was shipped during the quarter under review, at an average gold price of A$1 476/oz.
Norton pointed out that while the gold shipped was below budget expectations, owing to the lower-than-budgeted feed grades, production for the full year remained on track to reach between 176 000 oz and 184 000 oz.
During the quarter under review, Norton launched a takeover bid for fellow-listed Bullabulling Gold, with the company gaining a majority shareholding in Bullabulling during July.
The company also executed a term sheet with Excelsior Gold, providing a long-term milling allocation at the Paddington mill. The agreement provided Excelsior with an allocation of 2.5-million tonnes over five years, with an option to extend on a yearly basis for a further five years.