PERTH (miningweekly.com) – The Henty gold mine, in Tasmania, was delivering well above expectations, owner Unity Mining said this week, with the project delivering about 30% more ounces than expected.
Based on preliminary results for the first two months of the March quarter, Henty had already produced 10 414 oz of gold, as the mine processed ore from both the Darwin South and Read zones, which have yielded higher-than-forecast gold grades.
“This production performance is forecast to continue through March and with the company on track to deliver a production result for the quarter well ahead of target, we are confident in lifting our full-year production guidance to 45 000 t to 50 000 oz,” said Unity MD and CEO Andrew McIlwain.
He pointed out that this would be the fourth consecutive quarter of better-than-budget performance from Henty, adding that the sustained focus on cost control and a strategy of maximizing cash generation from the operation was expected to see a significant increase on the A$12.3-million cash at bank.
Unity last year flagged that it would place the Henty mine on care and maintenance in late 2014, as the miner failed to add new gold ounces through exploration.