PERTH (miningweekly.com) – Junior gold miner Aurelia Metals has reported a weaker quarter in the three months to March, as gold grades at the Peak mine, in New South Wales, underperformed.
Group gold production in the March quarter declined to 23 323 oz, down from the 35 834 oz reported in the previous quarter, with gold production from Peak declining from 19 610 oz to 9 132 oz.
Gold production from the Hera mine also declined slightly from the 16 224 oz delivered in the December quarter, to 14 191 oz.
“While gold grade and production at Peak during the March quarter was disappointing, the quarter saw us deliver another key plank in our operational strategy at Peak, with the transition to contract mining with Pybar,” said Aurelia MD and CEO Jim Simpson.
“After the initial transition period, underground mining rates are improving as we focus on throughput and mining unit cost reduction.”
Aurelia on Wednesday maintained its full year production guidance of between 115 000 oz and 130 000 oz, with the final production to be influenced by the grade performance at Peak during the June quarter.