Doray on track for full-year targets
PERTH (miningweekly.com) – Western Australian gold miner Doray Minerals on Thursday told shareholders that its Andy Well mine had exceeded production expectations during the three months to December, producing 20 963 oz of gold, at a head grade of 9 g/t.
MD Allan Kelly said that the December quarter production results meant that the company remained on track to meet its recently increased 2015 production guidance of between 85 000 oz and 90 000 oz.
“We’ve made a number of improvements at Andy Well that resulted in better-than-expected operating costs and margins for the first half of the 2015 financial year.
“In the second half of the year, we benefit from the increased high-grade Stage 2 openpit reserve, which will have a positive impact on the full-year results,” Kelly said.
The Stage 2 openpit was estimated to host some 23 500 oz of gold, and processing of the Stage 2 openpit ore was likely to extend from late in the March quarter, until early in the September quarter this year.
Doray meanwhile had also completed the realignment of a section of the Great Northern Highway, allowing for the start of mining at the Stage 2 openpit. Mining at the operation was expected to start later this month, and would continue until July.
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