PERTH (miningweekly.com) – Gold producer WPG Resources has again lowered its full-year production expectations as its Challenger mine, in Western Australia, continued to disappoint.
WPG previously forecast a combined production of between 58 000 oz and 60 000 oz for its Challenger and Tarcoola operations. However, the company at the start of June warned shareholders that gold production would likely be about 56 000 oz for the full year, as a new strategy is developed for the Challenger operation.
WPG on Monday told shareholders that despite the best efforts by the company’s management and its mining contractor, gold production at Challenger continued to disappoint.
As a result, the miner has downgraded production targets for the month of June from 8 500 oz to 6 000 oz, while full-year production has been downgraded to 53 000 oz.