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Metals X reports strong quarter in tin and gold

27th October 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Metals miner Metals X on Monday told shareholders that its gold division had exceeded production expectations by more than 20% during the September quarter.

The end of the September quarter marked the first-year anniversary of Metals X as a gold producer, with the miner announcing that it had produced 42 293 oz of gold during the period under review.

Gold production increased by 10% quarter-on-quarter and was above the 35 000 oz guidance.

During the period under review, the Chalice underground mine, in Western Australia, was closed, as forecast, while openpit mining was successfully started at the Lake Cowen operation.

The South Kalgoorlie mine continued at full capacity on low-grade stocks and intermittent toll processing of third-party ore.

Meanwhile, Metals X also reported record quarterly output from its tin division, with a 9% quarter-on-quarter increase to 1 831 t.

The increase in tin production was ascribed to higher head grades at the Renison project, in which Metals X holds a 50% interest.

Edited by Creamer Media Reporter

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