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Deflector hits production targets

Deflector hits production targets

Photo by Bloomberg

27th July 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold miner Doray Minerals has struck its production target for the 2018 financial year, with the miner producing 64 593 oz.

The full-year production was at the top end of the company’s guidance for the year of between 60 000 oz and 65 000 oz, and followed on from a solid quarter of production at the Deflector mine, in Western Australia during the June quarter.

“Deflector completed another solid quarter of production in June, which capped off a year that achieved or exceeded all production and financial expectations. This result combined with the exciting in-mine exploration discoveries made during the year, highlights Deflector as a quality operation with enormous upside potential,” said Doray MD Leigh Junk.

Gold production in the June quarter reached 18 467 t, while copper production was 818 t.

Copper production for the full year was reported at 3 413 t, which was well above the guidance of between 2 400 t and 2 800 t.

For the 2019 financial year, gold production from Deflector is expected to reach between 80 000 oz and 85 000 oz, with the 30% increase coming on the back of recent high-grade discoveries within the mine footprint.

All-in sustaining costs for the 2019 financial year are also expected to be significantly lower at A$1 050/oz to $1 150/oz, compared with the A$1 190/oz reported in the 2018 financial year.

Edited by Creamer Media Reporter

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