Beadell production plummets in March Q

1st May 2018 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH ( – Gold miner Beadell Resources has reported a 46% fall in gold production during the March quarter, compared with the previous quarter, following a 36% fall in grade and a 12% decline in mined volumes.

Beadell on Tuesday reported that 26 386 oz of gold was produced at the Tucano mine, in Brazil, in the three months to March, compared with the 48 739 oz produced in the previous quarter.

Gold sales in the same period was down 29%, from 45 351 oz to 32 165 oz.

Meanwhile, all-in sustaining costs for the March quarter was up by 29%, to $1 204/oz, on the back of increased waste stripping to access higher-grade oxide ores for processing during the June quarter.

Beadell has maintained its full year production guidance of between 145 000 oz and 155 000 oz of gold, with all-in sustaining costs forecast to be in the range of $1 100/oz and $1 200/oz.