Beadell eyes higher output with new mine plan
PERTH (miningweekly.com) – ASX-listed gold producer Beadell Resources has upped its production expectations for the full year, after implementing a new mine plan at its flagship Tucano gold mine, in Brazil.
The miner on Tuesday increased its production guidance from between 190 000 oz and 210 000 oz, to between 200 000 oz and 220 000 oz.
Mining costs were also expected to be slightly lower, owing to the increased production.
The new mine plan and production profile accounted for seasonal conditions, by increasing production from the lower-grade main Tucano pits in the first half of the year, and during the wet season, where well established and sheeted roads would allow for more efficient mining.
As a result, gold production in the first half of the year would be significantly lower than in the second half, the miner said.
Mining at the higher-grade Duckhead pit would be reduced during the wet season. However, during July to October, the mining focus would shift back to the Duckhead pit, which would then be completed during the period.
Beadell would use the down-time at Duckhead to restructure operating agreements covering the Duckhead pit.
Meanwhile, Beadell noted that its debt repayment had also been restructured with bankers to better align with the strong cash flow expected in the second half of the year, under the revised mine plan. Tucano’s project debt facility was still scheduled for repayment in full before the end of the year.
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