https://www.engineeringnews.co.za

Kingsgate orders review as gold price falls

29th April 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Kingsgate Consolidated on Monday said that it was reviewing its capital expenditure and operating plans, given the volatility of the gold and silver prices.

The miner noted that the review was aimed at ensuring the company continued to deliver the strongest return to shareholders.

Gold production for the three months to March increased slightly on the previous quarter, reaching 47 509 oz.

The Chatree gold mine produced 30 609 oz during the quarter, which was only marginally higher compared to the December quarter production of 30 391 oz. Kingsgate noted that mining at the operation progressed well during the period, with minimal interruptions.

At the Challenger gold mine, production increased by 7% over the previous quarter, to 16 900 oz.

Kingsgate reported that operational performance at Challenger was restricted by low underground equipment availability and the requirement to haul waste to surface. Towards the end of the quarter, the operations shifted to stope ore production.

Looking ahead, Kingsgate predicted that the June quarter would deliver the highest quarterly production for the year, and subject to any initiatives that could be implemented as part of the review process, total gold production for the group would be between 200 000 oz and 220 000 oz for the full 2013.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.822s - 140pq - 2rq
Subscribe Now