https://www.miningweekly.com

Beadell hits production records at year-end

Beadell hits production records at year-end

Photo by Bloomberg

7th January 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold miner Beadell Resources has reported record production at its Tucano gold mine, in Brazil, during the three months to December.

Some 60 823 oz of gold was recovered during the three months under review, with the increased production reflecting the continued contribution of high-grade ore from the Duckhead orebody.

The plant throughput capacity for the quarter also remained at 4.2-million tonnes a year, with the month of December averaging 4.3-million tonnes a year. Throughput improvements were expected to reach an annualised rate of 4.5-million tonnes during the March quarter.

“This record breaking quarter was particularly gratifying given our capacity to pay out some A$54-million in debt repayments coupled with important plant and equipment upgrades, while maintaining a strong cash and bullion balance, in an environment of low gold prices,” said Beadell MD Peter Bowler.

Beadell’s cash and bullion stocks totalled about A$25-million at the end of the December quarter.

“Taking into account our positive hedge balance of A$35.5-million and the $62-million remaining on our loan, the company’s balance sheet has improved markedly this quarter,” said Bowler.

Gold sales for the quarter reached 64 131 oz, compared with the 43 529 oz sold in the three months to September.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

AQS Liquid Transfer
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.052 0.583s - 111pq - 2rq
Subscribe Now