PERTH (miningweekly.com) – Gold miner Blackham Resources has flagged lower future all-in sustaining costs (AISC) for it Matilda/Wiluna operation, in Western Australia, as it increases output and lowers stripping ratios.
During the three months to June, AISC decreased to A$1 758/oz, from A$2 002/oz in the previous quarter.
Blackham told shareholders that while costs were decreasing they was still high owing to a number of reasons, including significant stripping invested in the openpits, underground lateral mine development, and lower gold production from processing lower-grade stockpiles.
However, the company noted that as gold production continued to increase, the AISC for each ounce should decrease significantly.
Blackham produced 15 709 oz of gold during the June quarter, which was higher than the 14 920 oz produced during the previous quarter, with year-to-date production reaching 39 413 oz.