Vantage ups gold output in Sept Q
PERTH (miningweekly.com) – Junior Vantage Goldfields, which owns operations near Barberton in South Africa, on Thursday reported record September-quarter production, with gold output up 34% quarter-on-quarter to 7 733 oz.
Vantage stated that underground development at its Lily mine increased steadily during the quarter under review, keeping with the company’s drive towards opening new stoping areas in order to provide greater mining flexibility. The ASX-listed company is targeting 35 000 oz/y of gold from Lily for at least 11 years.
Further, revised grade management procedures and the re-engineering of the mine layout improved orebody definition, and increased mining efficiencies, reducing mining dilution and raising head grades.
Tonnes milled at the Taylors mine also reached the highest level to date, during the quarter under review, but this was marginally offset by the lower head grades.
During the quarter under review, Vantage also lowered its cash costs by some 14%, to A$1 115/oz, while cash operating profits increased by 414%, to over A$2.6-million.
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