http://www.kingsgate.com.au/wp-content/uploads/2013/08/QR-Icon.png 80 80 Kingsgate Web Admin http://www.kingsgate.com.au/wp-content/uploads/2015/05/KCN_WebLogo_SMALL.png Kingsgate Web Admin2015-08-02 21:42:292018-04-30 10:54:59June 2015 Quarterly Report
- Group quarterly gold production of 55,601 ounces at a total cash cost of US$821/ounces.
- Group annual gold production of 205,245 ounces at a total cash cost of US$833/ounces – well within the guidance range of 195,000 to 215,000 ounces despite the loss of 44 days of production at Chatree, Thailand.
- Chatree quarterly gold production of 36,413 ounces at a total cash cost of US$722/ounces.
- Challenger quarterly gold production of 19,188 ounces at a total cash cost of US$1,011/ounces.
- In Chile, the new gold discovery at Nueva Esperanza, “Chimberos Gold”, has increased Mineral Resources by 250,000 ounces of gold and 5.1 million ounces of silver.
- Total Mineral Resources at Nueva Esperanza have increased by 21% to 1.9 million gold equivalent ounces (GEO^).
- At Nueva Esperanza, an optimisation study in conjunction with Ausenco is underway to provide indicative capital and operating cost estimates for a 2Mtpa milling operation.
- Cash and bullion/doré at quarter end was A$82.1 million after debt repayments of approximately A$7 million during the quarter. Total debt outstanding was approximately A$130 million.
- The A$25 million Senior Corporate Loan Facility is in the process of being restructured with A$15 million to be re-paid in FY16 and A$10 million in FY17.
- Group production guidance for FY16 is in the range 165,000 to 180,000 ounces. The mine plan at Challenger is under review with the current reserves expected to be depleted in the March quarter 2016. Scheduled stripping activities at Chatree result in production strongly skewed to the second half.