Photo by: Bloomberg
PERTH (miningweekly.com) – Gold miner Beadell Resources has reported only a slight increase in gold production during the three months to March, but saw a spike in sales, compared with the previous corresponding period.
In the period under review, Beadell produced 32 507 oz of gold, compared with the 30 451 oz produced in the March 2013 quarter.
The miner noted that its Tucano gold operation, in Brazil, was negatively affected by wet weather during the quarter, with its Duckhead pit producing less ore. Mining at the pit was also temporarily suspended in March, while Beadell and the local government agreed to a new mine plan.
At the end of the quarter, about 6.2-million tonnes of ore, grading 0.81 g/t gold had been stockpiled, containing 162 000 oz of gold.
Meanwhile, gold sales during the three months under review increased to 38 757 oz, from 22 600 oz sold in the previous comparable period. Gold in circuit decreased from 7 992 oz to 5 971 oz during the quarter.
For the full year, Beadell expected to produce between 200 000 oz and 220 000 oz.