http://www.kingsgate.com.au/wp-content/uploads/2013/08/QR-Icon.png 80 80 Simon Pierce http://www.kingsgate.com.au/wp-content/uploads/2015/05/KCN_WebLogo_SMALL.png Simon Pierce2014-01-22 05:36:402014-03-18 12:12:55December 2013 Quarterly Report
- Strong Group operating performance with a 7% increase in quarterly gold production to 54,539 ounces, and a 12% reduction in total cash costs to US$918/ounce, when compared to the September quarter.
- Challenger’s performance highlights the benefits of the restructuring plan. Gold production of 20,318 ounces was at the highest level for seven quarters, and total operating costs were 17% lower than the September quarter.
- Continued optimisation at Chatree delivered a strong quarter with 34,221 ounces of gold produced and operating costs 8% lower than the previous quarter.
- Group debt repayments of approximately A$17 million were made during the quarter and corporate borrowing facilities were restructured.
- The definitive feasibility study (DFS) for Nueva Esperanza is nearing completion.