PERTH (miningweekly.com) − Gold miner Adamus Resources on Thursday reported that it had exceeded production expectations at its Nzema project, in Ghana, since commercial production was declared in April.
Total gold poured at Nzema came in 8% above the forecasted guidance of 26 015 oz for the three months to June. This was as a result of the higher-than-forecasted grade of 1.89 g/t gold, and a recovery rate of 92%.
The company’s focus during the three months had remained on achieving targeted head grades, plant availability and throughput rates, to bring about steady state production and realise initial gold production within the forecasted cash cost range.
“This has been a breakthrough quarter in Adamus’ strategy of building a profitable and sustainable gold operation,” said MD Mark Connelly.
He noted that the processing plant and infrastructure facilities at Nzema continued to meet design specifications and were performing well, with plant availability averaging around 93% for the month of June.
“The operational focus in the September quarter will be to continue to improve and optimise plant performance, improve daily mine extraction rates and ore grade mined. Cost management will also continue to be a focus across the business,” Connelly said.
Looking ahead, Connelly said that it expected to produce between 100 000 oz and 105 000 oz for the 2012 financial year, at a cash cost of between $550/oz and $600/oz.
Source: www.miningweekly.com
New Ghana gold mine beats production guidance
