Resolute's output drops in June quarter
PERTH (miningweekly.com) – Africa-focused gold miner Resolute Resources has reported a 10% fall in gold production for the quarter ended June, compared with the March quarter.
Gold poured for the three months to June reached 77 450 oz, down from the 85 668 oz poured in the March quarter, while sales declined from 83 400 oz to 68 103 oz in the same period.
Resolute on Thursday said that record levels of mining at the Syama sulphide operation in Mali, along with record processing and roaster throughput, were offset by power disruptions and extensions of scheduled mill maintenance, along with lower grades.
The record tonnes of ore processed at the Syama oxide operation were also offset by lower blended grades and increase in circuit stocks.
Gold production at the Mako operation, in Senegal, was down 7% on the March quarter, reflecting a slightly lower processed grade and lower ore availability, but was still in line with expectations, Resolute said.
All-in sustaining costs (AISC) for the quarter were 7% higher in the period ending June, at $1 319/oz, reflecting the lower production volumes.
Guidance for 2021 has been amended to reflect first half performance and outlook for the second half. Total production for 2021 is now expected to be within the range of 315 000 oz to 340 000 oz of gold, compared with the previous guidance of between 350 000 oz and 375 000 oz, at an AISC of between $1 290/oz and $1 365/oz, inclusive of corporate overheads.
The Syama sulphide operation is expected to produce between 132 500 oz and 145 000 oz in the calendar year, while the oxide operation will produce between 67 500 oz and 75 000 oz. Mako is expected to contribute between 115 000 oz and 120 000 oz in the full year.
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