Pantoro hits targets
PERTH (miningweekly.com) – Gold miner Pantoro has hit its production targets for the full year ended June, producing 52 203 oz of gold, which was within the guidance of between 50 000 oz and 55 000 oz.
In the three months to June, Pantoro produced 11 694 oz of gold, which is lower than the 13 385 oz produced in the previous quarter, as a result of unexpected mining dilution.
Pantoro told shareholders on Monday that mine grades had improved once the issue was rectified, with a head grade of 9.15 g/t achieved during the month of June.
Despite the June quarter production trending below the previous quarter, it still exceeded the guidance of between 10 600 oz and 11 400 oz.
“The June 2018 quarter was a defining period in the preparation for continued growth at Nicolsons. The operations team achieved an excellent outcome in delivering several major capital projects while maintaining production at the mine,” said Pantoro MD Paul Cmrlec.
“The projects undertaken are key to our growth plans, and we look forward to developing production rates at 80 000 oz to 100 000 oz a year in the near term.”
Meanwhile, the first substantial ore development from the Wagtail underground mine is expected in the December quarter, and a combination of the Wagtail ore and the existing Nicolsons feed is expected to result in the newly commissioned ore sorter and processing plant being fully used by the end of the year.
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