Gold One narrowly misses Q1 output guidance
JOHANNESBURG (miningweekly.com) – Dual-listed Gold One on Tuesday reported a narrowly missed gold production target of 62 500 oz for the first quarter of this year.
Gold One, which had set a production guidance of 70 750 oz for the June quarter, produced 61 853 oz of gold in the quarter ended March 31, up from the 57 584 oz achieved in the December quarter.
The JSE- and ASX-listed gold producer’s Cooke underground operation recorded a positive quarterly contribution for the first time since its acquisition.
The operation missed its production guidance by 1%, producing 29 784 oz of gold during the period under review; however, this was 20% higher than the prior quarter’s output.
The Randfontein surface operation exceeded its guidance by 5% or 410 oz, with production during the quarter under review reaching 8 910 oz of gold.
The group’s Modder East mine produced 23 159 oz for the quarter – 7% or 1 841 oz below guidance on the back of the ongoing production build-up and slower-than-expected replacement of lost critical skills after an illegal strike in June.
Gold One aimed to produce 30 000 oz, 32 000 oz and 8 750 oz from the Modder East, Cooke underground and Randfontein surface operations respectively during the June quarter.
Meanwhile, the group achieved revenue of $95.8-million during the period under review from the sale of 57 860 oz of gold at an average price of $1 625/oz.
This compared with the revenue of $91.77-million achieved during the December quarter from the 57 328 oz of gold sold into the spot market at an average price of $1 637/oz and 532 oz of gold delivered into the hedge book at an average price of $404/oz.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
