Gold sales revenue of A$1706K at AuStar
AuStar Gold provides the update on its activities for the quarter ended 31 March 2020. Gold sales revenue of A$1,706,769 achieved at an average realised gold price of A$2,376 per ounce, a decrease of ~5.9% quarter on quarter (QOQ); Quarterly gold sales of 718.15 Oz Au with Dore gold production of 650.53 Oz Au (- 22% QOQ).
2,250 tonnes of gold-rich concentrate was also produced in the quarter containing an estimated 98 Oz gold; Realised grade from the McNally’s and Stones reefs continued to perform to forecast expectations over the quarter. Milling operations continuing to achieve close to nameplate productivity with minimal operational downtime; there were nil lost time incidents, OHS or material environmental events for the quarter with AuStar Gold maintaining a high standard of Environmental, Safety and Community (ESC) outcomes.
Mining at the Morning Star Gold Mine continued during the Quarter with the 7 Level McNally reef and the 8 sub Level Stone reef contributing to overall production, with McNallys dominating. For the Quarter, the Morning Star mine delivered 2,238 tonnes of ore feed to the mill.
The AuStar Gold process plant at the Morning Star mine site utilises standard gravity methods to recover gold from the Company’s Morning Star ores. Through the gravity process, the gold room captures approximately 65% to 75% of the gold directly to bullion, with an additional 10% to 15% of fine free gold residing in the gold bearing concentrate tails (middlings).
650.53 ounces of refined gold from Dore was produced from the gravity circuit in the December quarter from 2,259 dry tonnes processed. An additional 67.6 ounces of gold were gained from the concentrate production and was sold in the March quarter. Both Dore and concentrate sales produced a gold sales revenue A$1,706,769 for an average gold price of $2,376 / ounce.
