September 2014 Quarterly Report

Kingsgate had a solid September quarter with gold production of 53,557 ounces at total cash cost of US$906/ounce. Chatree production was in line with expectations at 33,648 ounces and a good performance from Challenger with 19,909 ounces produced.
Gold sales for the quarter of 49,200 ounces were lower than production due to the timing of gold shipments and out-turn received from the refineries. The average gold price received was US$1,278/ounce and the Group All-in Sustaining Cash Cost based on gold sold was US$1,102/ounce.

  • Good Group operating performance with quarterly gold production of 53,557 ounces at total cash cost of US$906/oz.
  • Chatree produced 33,648 ounces of gold at US$751/oz and Challenger produced 19,909 ounces of gold at US$1,167/oz for the quarter.
  • Spectacular drilling results from Nueva Esperanza, Chile, with one of the best intersections ever recorded by Kingsgate:
    • 170 metres @ 2.79g/t gold & 82g/t silver (4.16g/t AuEq60) from 58 metres, in hole ECHR-25, including
      • 36 metres @ 8.63g/t gold & 177g/t silver (11.57g/t AuEq60) from 168 metres.
  • Following the release of an updated Mineral Resource and Ore Reserve Statement, Group Mineral Resources at 30 June 2014 are now estimated at 10.34Moz gold equivalent^ (4.73Moz gold and 250Moz silver) and Group Ore Reserves estimated at 2.72Moz gold equivalent^ (1.69Moz gold and 69.7Moz silver).

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