Troy holds firm on shaky ground
PERTH (miningweekly.com) – Dual-listed gold miner Troy Resources has reported a record throughput at its Casposo operation, in Argentina, during the three months to March, with the operation operating at 10% above nameplate capacity.
Quarterly gold production at Casposo reached 18 246 oz in the quarter ended March, taking the year-to-date production to 55 586 oz.
“Despite the record waste movement required to maintain high-grade ore feed to the plant in the face of the delay in underground ore production, the Casposo site saw a 13% reduction in cash costs to $492/oz net of silver credits,” said Troy CEO Paul Benson.
He noted that although the underground mining contractor still faced challenges, a significant improvement in productivity had been recorded with the development meters increasing 270%, compared with the December quarter.
Meanwhile, production at the Andorinhas mine, in Brazil, reached 8 173 oz during the quarter under review, with year-to-date production standing at 26 204 oz.
“Andorinhas had similar production to the previous quarter, although unit costs were higher, as it transitions from predominantly cut-and-fill mining to shrinkage stoping,” said Benson.
He added that Troy expected higher grades at Andorinhas over the coming quarter, which should lift production and lower unit costs.
Meanwhile, Benson noted that despite the fall in gold prices over recent times, the company believed that little had changed with respect to the macroeconomic fundamentals, which remained bullish for the gold sector in the medium- to longer-term.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...
VISIT SHOWROOM
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
