JOHANNESBURG (miningweekly.com) – The turnaround that started in December at the Matilda-Wiluna gold operation, in Western Australia, has delivered another record month of gold production for junior miner Blackham.
The miner in late December gained access to high-grade zones in the M4 and Galaxy pits, which enabled record monthly gold production in January and February, with output of 6 498 oz and 6 713 oz, respectively.
February’s openpit mining stripping ratio was a low 1.5:1 (waste to ore), compared with 3.6:1 in January. The low stripping ratio and increased gold production resulted in Blackham achieving a record low monthly all-in sustaining cost of A$912/oz in February, compared with A$1 158/oz in January. The average realised gold price during February was A$1 670/oz.
“Record production and further reduced costs from the operation underpinned another month of strong cash flow, while maintaining stockpiles with increased grades. We remain confident that 2018 will be a transformational year that will generate significant cash flows and value for Blackham and its shareholders,” said executive chairperson Milan Jerkovic.