PERTH (miningweekly.com) – Gold production from ASX-listed Kingsgate Consolidated declined significantly for the three months ended March 31, compared with the previous quarter, as the miner faced difficult conditions.
Kingsgate on Thursday reported that group gold production for the three months to March 31 reached 32 472 oz, compared with the 47 307 oz produced in the previous quarter.
The Chatree mine, in Thailand, produced only 23 053 oz of gold during the quarter under review, compared with the 28 257 oz produced in the previous quarter. The decrease in gold production was attributed to fleet availability issues and reduced access to higher-grade ore as the project faced permitting delays.
Meanwhile, gold production from Challenger mine reached 9 419 oz, compared with the 19 050 oz delivered in the December quarter, as the mine was placed on care and maintenance, and sold during the quarter under review.
Group gold sales for the quarter under review reached 33 685 oz, down from the 49 242 oz sold in the previous quarter, with the average gold price levelling at $1 129/oz and the group’s all-in sustaining costs reported to be $995/oz.