Beadell ups output by 50% in Q1
PERTH (miningweekly.com) – Gold miner Beadell Resources has increased its gold recovery by more than 50% during the three months to September, as high-grade ore from the Duckhead deposit was delivered into its Tucano plant, in Brazil.
Beadell recovered 55 094 oz of gold in the September quarter, compared with the 35 179 oz recorded in the previous three months, with head grade increasing by more than 36%.
“This quarter was particularly pleasing given the high-grade ore from Duckhead only impacted gold production for the second half of the quarter,” commented MD Peter Bowler.
He noted that with a full quarter of Duckhead ore, along with the A$1.7-million gold elution circuit upgrade, cash flows were expected to increase in the next quarter.
“Additionally, with Duckhead potentially yielding up to 50% more gold than expected at no additional costs, the reduction of our production costs will be significant,” said Bowler.
Meanwhile, the throughput capacity at Tucano remained steady at four-million tonnes a year, and Beadell predicted that the throughput would increase to a rate of 4.5-million tonnes a year during the next quarter.
ASX-listed Beadell on Thursday maintained its first half production guidance of between 120 000 oz and 130 000 oz, at a cash cost of beween $435/oz and $485/oz.
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