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September 2015 Quarterly Report

Highlights

  • Group quarterly gold production of 43,012 ounces at a total cash cost of US$842/oz.
  • Both Chatree and Challenger operations remain within FY16 production guidance, noting that scheduled overburden stripping activities at Chatree will result in a staggered production profile skewed towards a strong second half.
  • Challenger quarterly gold production of 20,523 ounces at a total cash cost of US$802/oz was 8% ahead of budget reflecting a strong all-round operating and cost performance.
  • Chatree gold production of 22,489 ounces at a total cash cost of US$879/oz lower quarter on quarter production is a direct reflection of lower grades during a planned mine cut back phase.
  • An optimisation study on the Nueva Esperanza development project, Chile, is due for completion in November 2015. The study will provide refreshed economic and technical data, updated reserves and inform the next steps on permitting and feasibility input.
  • Exploration around the Nueva Esperanza project area recommenced in October following a winter season break. The FY16 objective is to continue to define and drill gold targets on the ~45km2 alteration system with the aim of increasing the 1.9Moz AuEq Nueva Esperanza resource.
  • Cash and bullion/doré totalled A$59.8 million (June Qtr: A$82.1 million), comprising cash of A$47.9 million (including restricted cash of A$12.7 million) and bullion/doré of A$11.9 million.

Group Operating Summary

Operation Production
(ounces)
Total Cash Costs
(US$/ounce)
Chatree 22,489 879
Challenger* 20,523 802
Total 43,012 842

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