Deflector tips the scales for Doray
PERTH (miningweekly.com) – Gold miner Doray Minerals has reported record production from its Deflector operation, in Western Australia, during the three months to September.
Some 19 683 oz of gold and 635 t of copper were produced during the three months under review, up from the 18 467 oz of gold produced during the June quarter, along with 818 t of copper.
“Deflector has again exceeded expectations,” said Doray MD Leigh Junk on Tuesday.
“In addition to our improved production performance, our processing team also achieved record plant availability, record throughput and record recoveries of both gold and copper.
“As a result of this continued strong performance, our balance sheet remains healthy and we are continuing to track towards our full-year production guidance and period of substantial cash generation.”
Junk said that starting the 2019 financial year ahead of budget and with the recent agreement to divest of the Andy Well operation, Doray has established the foundations for a period of sustained growth.
Doray in October agreed to divest of the Andy Well gold project to Canadian gold miner Galane Gold, for A$10-million. Doray will be paid A$3-million in cash up-front, along with A$1-million worth of Galane shares. A further A$3-million in cash will be payable 12 months after the execution of the agreement, with the balance of A$3-million due 24 months after the execution of the agreement.
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