Duckhead to add to Beadell ounces in Jan
PERTH (miningweekly.com) – Gold miner Beadell Resources said it was expecting an additional 8 000 oz of gold from its high-grade Duckhead orebody, at the Tucano project in Brazil, during January.
The miner initially anticipated completing mining at the Duckhead pit by the end of 2014; however, owing to the complexity of mining on a neighbouring tenement, which is controlled by a third party, the mining completion date had now been deferred by two or three weeks, to mid-January.
The extended production time would result in an addition of 8 000 oz of gold sales from the Duckhead orebody, at very low strip ratios.
Additionally, owing to the high gold ore grades processed in late December, gold bullion in the safe, and above normal gold-in-circuit attributable to the December production, but not included in the gold sales, was about 7 000 oz, which would further add to January’s strong gold sales.
However, Beadell also informed shareholders that total gold sales for 2014 reached 166 000 oz, which is about 7% below the lower end of the 180 000 oz guidance. The lower production was primarily owing to the timing of the mining and processing of the high-grade Duckhead ore.
“Quarterly production and costs were very pleasing even though we missed the targeted completion date of Duckhead by two weeks, which would have ensured gold sales guidance was met,” said Beadell MD Peter Bowler.
“The imminent completion of the Duckhead pit will now allow for the entire mining fleet to be deployed in the lower strip ratio Tucano pits throughout 2015. This will ensure efficient and highly productive mining practices by our earthmoving partner Maca. This, in turn, will result in more predictable and consistent low-cost gold production throughout 2015 with anticipated gold sales of 180 000 oz at a gold grade for the year at an average of 1.4 g/t gold.”
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