PERTH (miningweekly.com) – Gold miner Gascoyne Resources on Monday told shareholders that it was tracking towards the upper end of its production guidance for the 2021 financial year, following a strong December quarter.
Gascoyne produced 20 381 oz of gold in its December quarter, up slightly from the 20 314 oz produced in the September quarter, bringing half-year production to 40 695 oz, and tracking ahead of the company’s full year guidance of between 70 000 oz and 80 000 oz production at an all-in sustaining cost of between A$1 200/oz and A$1 300/oz.
“Dalgaranga has achieved three consecutive quarters producing in excess of 20 000 oz, resulting in 80 086 oz being produced in calendar 2020,” said MD and CEO Richard Hay.
“This consistent performance is largely as a result of mining transitioning through the oxide zone and into fresh rock in the Gilbey’s pit over the past 18 months. Combined with a growing net cash position and a A$7.5-million in the money hedge position, Gascoyne is well placed to pursue its growth ambitions.”