- Write by:
-
Tuesday, March 26, 2019 - 12:06:27 PM
-
614 Visit
-
Print
Mining News Pro - Dacian Gold remains confident it will achieve the targeted annualised run-rate at the Mt Morgans operation in Western Australia, despite a reduction in its 2019 financial year gold production target.
According to Mining News Pro - The company has suffered from lower-than-expected production during the March quarter this year due to reduced underground load and haul equipment availabilities at the Westralia mine area.
The production shortfall peaked in February and was addressed in March with the mobilisation of two 60-tonne trucks and a tele-remote loader to site.
Dacian, having one remaining gold pour, expects its March quarter’s production to fall within the range of 36,000–38,000 ounces, similar to the December 2018 quarter.
Chairman Rohan Williams said the company and its underground mining contractor had moved as quickly as possible to resolve the issues around equipment availability and returned underground productivity to design levels.
“We are confident that the issues we faced in the March quarter have been resolved and we are forecasting a strong June quarter with a corresponding excellent all-in-sustaining cost (AISC) profile, which puts us on track to achieve our targeted annualised production run-rate of 200,000 ounces,” Williams said.
Dacian’s production in the June quarter is expected to be between 50,000 and 55,000 ounces at an ASIC of $1050–$1150.
Its 2019 financial year production guidance was revised to 150,000–160,000 ounces, down from the previous target of 180,000 ounces.
“Importantly, mine-to-mill reconciliation since processing of the Westralia underground and Jupiter pit ores started in April last year remains very good at 101 per cent,” Williams added.
“Mining dilution from the underground and the open pit remain at or better than feasibility study estimates, which is also a very good result.”
Short Link:
https://www.miningnews.ir/En/News/350502
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday, missing analyst expectations on the ...
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner ...
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Ghana Mine Workers Union is demanding the termination of the mining lease of Future Global Resources Ltd. because the ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
Australia’s Fortescue on Wednesday logged a larger-than-expected decline in third-quarter iron ore shipments, following ...
No comments have been posted yet ...