PERTH (miningweekly.com) – Gold miner Resolute Mining has reported its sixth consecutive quarter of increased production during the three months to March.

Gold production int eh March quarter was up 1% on the December quarter, reaching 92 259 oz, with gold sales declining by 6% in the same period, from 93 326 oz to 88 151 oz, while the average realised gold price was up by 4% to $1 890/oz.

“I am pleased to report another solid quarter for Resolute, recording a sixth consecutive increase in production with 92 259 oz of gold poured, underpinned by improved productivity at all three mines,” said Resolute MD and CEO Terry Holohan.

“This is a significant achievement especially given the pre-planned seven-day downtime for roaster maintenance at the Syama Sulphide operations, towards the end of the quarter. Costs for the quarter improved 6% compared to the December quarter, benefiting from stockpile build up, as the company mined more material than was processed across all sites.”

The Sayama sulphide operation, in Mali produced 41 142 oz of gold during the quarter under review, with the oxide operation contributing 17 513 oz. The Mako mine, in Senegal, produced 33 604 oz of gold during the quarter

“The company’s focus for the remainder of 2023 at Mako is on the planned pit extension, with mining for the remainder of the year through a lower grade section. The company expects the June and September quarterly production levels to decrease marginally as the operations move through this section of the pit,” said Holohan.

“Once the extension is complete, operations at Mako will return to the higher grade ore and benefit from lower stripping ratios, thus enabling higher production for the remainder of the mining life, out to 2025.

“At Syama, the emphasis remains on progressing the Syama North prefeasibility study, with expected outcomes to be availablemid-2023. The scoping study supports a low capital expansion costing between A$40-million to A$50-million for items that will increase the sulphide processing capacity by up to 60% from a nominal 2.4-million tonnes a year capacity to 4-million tonnes a year with an expected lowering of unit operating costs.

“The overall company focus remains on reducing costs across both operations, while maintaining the improved production particularly at Syama, with a number of initiatives already underway across the group.”

Looking ahead at the full year, Resolute is targeting production at 350 000 oz at an all-in sustaining cost of A$1 480/oz.