Doray lowers gold production expectations
PERTH (miningweekly.com) – Metals miner Doray Minerals has lowered its expected gold production guidance for 2017, while increasing its copper production expectations.
The miner on Friday told shareholders that total gold production from its Deflector and Andy Well operations were expected to be between 100 000 oz and 110 000 oz, while copper production would be between 4 200 t and 4 600 t, for the full year ending June. Doray's earlier guidance, provided in September, estimated gold production of 105 000 oz to 120 000 oz and copper output of 3 000 t to 4 000 t.
Doray reported that ongoing reviews and optimisation of the current geological modelling at the Andy Well mine, in Western Australia, had reduced the number of forecast ounces that would be produced in the second half of the financial year.
The Andy Well mine is forecast to produce between 50 000 oz and 55 000 oz of gold for the full year, while the Deflector mine will have similar output, along with between 4 200 t and 4 600 t of copper.
Following a complete review at Andy Well, capital development would be optimised to reflect the production profile, and although lower ounces were expected for the remainder of this financial year, and into the next financial year, Doray MD Leigh Junk pointed out that the operation would produce more cash flow than continuing with a higher production and higher cost model.
“This places Andy Well in a far more favourable position going forward.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation