Ballarat mine now focused on 55,000oz pa
26th Jul 2012
JULY 26 – Castlemaine Goldfields is targeting full year 2012 production of 40,000-55,000oz from its Ballarat mine in Victoria, Australia, after 2nd qtr June production of a project-best 9,336oz, nearly double the previous qtr, from 46,518t at 9.2g/t.
The latest results indicate an end of the 9-month ramp-up into production, which began with its 1st gold pour in September. CEO Matthew Gill says Castlemaine will now look to consolidate at these production levels over the next 6 months.
“Successful mining of the high grade Mako Lode in Llanberris has been a priority to demonstrate its geology and grade performance. The June qtr results have given us confidence this is possible. It is now time to focus on extending the mine’s life and this planning is currently underway.”
He says mine scheduling of the Britannia and Llanberris compartments will underpin an updated production target of 40,000-55,000oz pa.
The ramp-up to its target rate of 220,000tpa was achieved from the establishment of eight working headings within the high grade Mako and Tiger Lodes in the Llanberris compartment, with latest cash operating costs down 50% on the March qtr to $A569/oz and total production costs down 35% to $1,002/oz. The company received $12.2M from 7,752oz at an average spot price of $1,575oz.
Also in the July 25 - 31, 2012 edition
- AFRICA
- ABG suffers costly miss
- Blackthorn gets a jab
- Galileo tees up African base
- ASIA DESK
- You first
- COAL
- Botswana junior’s energy boost
- China coal tide goes out
- Tudor exalts Indonesia
- CONSULTING
- Back to the future
- CSA moves into growth mode
- EVENTS
- Mining events diary 2012-13
- EXPLORATION
- All is quieter on the western front
- Uranium explorer highlights value of enterprise
- Ventnor resource adds fuel to Sandfire guesswork
- FINANCE
- Big future in small deals
- FROM THE CAPITAL
- Chinese criticise Australia’s central planners
- HEAVY METAL
- Change of direction pays off for contractor
- INSIGHT
- Latin America is a serious contender
- INTERCEPTS
- A right royal deal for London Mining
- Alcyone’s silver lining begins to shine
- Among big miners, fundamentals rule, okay
- Anglesey buys Intermine out of Parys
- Antofagasta tracking higher
- Apex lifts Wiluna output, cuts costs
- Appointment targets increased coal exports
- Arch Coal sees a stronger second half
- Ariana cashes up for Turkey auctions
- Atlas Pilbara reserves climb
- Ausdrill scores whopper $540M contract
- Avanco close to Carajas copper target
- Baja to fight second legal challenge
- Barrick fall cuts royal royalty cash
- Barrick profit plunge forces changes
- Beacon Hill accelerates mine expansion
- BHP remains silent on delay rumours
- Black Mountain cash raising for new project
- Blue Spec project strengthens ahead of 2013 production
- Bullabulling progresses mine studies
- Cat cautious despite record quarter
- Cazaly lines up Parker Range port outlet
- Chatham Rock set to raise $US10M
- Close to break-even is best Mincor can expect in FY2012
- Coal fall injures NZ miner
- CoAL seeks funds to counter looming losses
- Commodity prices hamper Vale
- December beckons for Reed’s Meeka gold production
- Diamond price rise
- Discovery defines copper silver resource
- Doray to proceed with Andy Well
- Dragon moving up the scales
- Elephant Copper buys Zambian copper projects
- Endocoal starts Rockwood mine studies
- Environmental approval secured for Tormin
- Environmental approval win for Khnaiguiyah
- Environmental tick for new Pilbara iron ore port
- EPA advances Shree Minerals iron ore mine
- Exxaro lifts earnings on lower sales
- Fast-paced Archipelago chasing 160,000oz pa
- Former mining executive admits insider trading
- Gary Goldberg for Newmont president
- Gem lifts diamond production
- Gold Fields ordered to shut mine facility
- Gold One lifts output despite strike
- Golden Rim on the fundraising trail
- Good news on the Mongolian line for Aspire
- Good year for Continental Coal
- Guildford ready for Gobi coal project start
- H2 looking stronger for Xstrata
- Half million oz-plus for Goldstone
- Hancock subsidiary partners with Guildford Coal
- Harlequin shut down won’t hurt Norseman production
- Hecla launches late US Silver bid
- High grade copper at Horseshoe
- Ivanhoe $50M funding supports review
- Kazakhmys gets back on track
- Lonmin cuts PGM project spending, caps production
- Low cost gold-silver potential at Mt Carrington
- Lower prices cut Lundin profit
- Lynas takes its case to Malaysian courts
- Magellan on long haul to lead production
- Maiden iron ore resource for Cliffs’ Bullamine this qtr
- Mamba eyes iron ore acquisition
- Margaret to give Ernest Henry a lift
- Maximus sells alluvial gold project
- Minister defends mining ban
- Molo graphite project closes on resource figure
- Mt Gordon revival lifts Aditya Birla
- Mutiny lines up Deflector project funding
- Newcrest meets its lower targets
- Newmont takes flight with Alliance
- Northern Star all good in the Paulsens hood
- Norton lifts Paddington output, reserves
- NZ seabed phosphate attracts big investor
- OceanaGold likes what it’s hearing on Philippines reform
- OceanaGold stays on its growth track
- Outotec lifts full year sales pointer
- OZ Minerals faces down production falls/costs
- Paramount secures 85% of Gunung Rosa
- Perilya turns back the clock at Broken Hill
- Platinum Aust settles damaging contractor row
- Polymetal on track for 1Moz status
- Project delays force Eldorado to drop outlook
- ResGen turns up a half-year profit
- Rex climbs higher with Hillside copper
- Sable moves towards a Guinea DFS
- Shanta builds its New Luika resources
- Shanta increases East African gold resources
- Shareholders to vote on Ironveld deal
- Silt struggle for Red5 at Philippines mine
- Sirius strikes new zone of sulphide mineralisation
- Strikes bring force majeure at Colombian coal ports
- Strong quarter keeps Evolution on target
- Takitimu coal footprint expanded
- Targets achieved, BC Iron aims higher
- Tomingley mining approval granted
- Viento acquisition to grow mining services business
- Wesfarmers agrees Curragh mine price rise
- Westport port upgrade progressing
- White Cliff looks for more Kyrgyz action
- MINING
- BCI takes care of business
- OZ keen to avoid production hiatus
- PanAust decision to pay dividends
- MINING INTELLIGENCE
- The battle to retain the best people has started
- PEOPLE
- People on the move: Aurecon, Ausdrill, Vale, Aspire Mining
- PROJECT WATCH
- If you’re out that way …
- SOUTH AMERICA
- Markets ignore Metminco successes
- VIEW FROM THE WEST END
- Vestra culpa
