PERTH (miningweekly.com) – The Tomingley gold mine, in New South Wales, has delivered record production for owner Alkane Resources during the quarter ended June.
The mine produced 27 924 oz of gold during the three months under review, which was above forecast and well above the 18 721 oz delivered in the previous quarter.
Alkane told shareholders that the June quarter output brought second-half production to 46 645 oz, at an all-in sustaining cost (AISC) of A$1 038/oz, which was a recovery from the first-half production.
For the full year, the Tomingley mine produced 68 836 oz of gold, at an AISC of A$1 335/oz.
Meanwhile, gold sales during the three months to June reached 31 107 oz, at an average sales price of A$1 690/oz, generating revenue of A$52.6-million. Bullion on hand at the end of the quarter decreased by 3 172 oz, to 1 814 oz, with a fair value of about A$2.9-million.
The current life-of-mine plan at Tomingley will see the opencut operations finish by the first quarter of 2019. Alkane noted that while a small cutback of the Caloma One pit, using smaller equipment has been designed, it was not currently scheduled; however, it remained an option for the Tomingley mine should economics allow in the future.
Low-grade stockpiles of around 612 000 t are also available for milling, but are not scheduled to be milled until the potential underground material has been made available for blending.