Kingsrose production up by 88%
PERTH (miningweekly.com) – Embattled gold miner Kingsrose Mining has reported an 88% increase in gold production during the March quarter, compared with the previous quarter, as the company’s administrators worked to recover ounces.
Gold production during the three months under review increased from 1 786 oz to 3 361 oz, while silver production increased from 4 915 oz to 9 750 oz.
All-in sustaining costs for the March quarter reduced significantly, from $3 179/oz to $1 322/oz.
During the March quarter, operations continued at the Talang Santo mine, in Indonesia, with a focus on finalising the mine plan, including the design of the necessary infrastructure to access the lower levels of the mine and developing a long-term solution to the ongoing water ingress into the mine.
Openpit operations also started at the Way Linggo orebody, following the receipt of preliminary approvals from the Indonesian Mines Department. By the end of the quarter, 4 729 t of ore had been extracted from the project.
Kingsrose administrators are now evaluating the restart of underground mining at Way Linggo, which will be accessed through the openpit operations.
Meanwhile, 1 929 oz of gold were sold during the quarter, generating revenue of A$3.1-million.
Kingsrose in December called in administrators to assist the company in a financial restructure and to develop a new operational strategy.
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