Chatree Gold Mine Production Update for December 2016
Kingsgate Consolidated (ASX:KCN) (“Kingsgate” or the “Company”) is pleased to provide an update on the Chatree Gold Mine’s (“Chatree”) December 2016 production, following another strong performance.
Chatree operating result for the month of December 2016 is as follows:
- 19,377 ounces of gold produced;
- 17,778 ounces of gold poured; and
- 19,040 ounces of gold sold.
As previously reported on 28 December 2016 Chatree is now debt free, and in accordance with the Thai Government’s decision to cease all gold mining generally by the end of 2016, it was placed on to Care and Maintenance effective 1 January 2017.
Kingsgate’s remaining corporate bank debt facility of A$5 million, is scheduled for repayment at the end of January 2017.
Kingsgate estimates that by the end of January 2017 following the repayment of the corporate debt facility of A$5 million, Group cash will be approximately A$38 million.
Chief Executive Officer
Kingsgate Consolidated Limited