Peninsular Gold Limited Raub Operations Update (5343J)
13 6월 2014 - 3:00PM
UK Regulatory
TIDMPGL
RNS Number : 5343J
Peninsular Gold Limited
13 June 2014
PENINSULAR GOLD LIMITED
('Peninsular' or the 'Company')
Raub Operations Update
Highlights
-- Gold production for the quarter to 31 March 2014 of 5,805 ozs
from approximately 371,000 tonnes of tailings throughput (Q4 2013:
4,628 ozs)
-- Gold production for the 1st three quarters of the financial
year (July 2013 to March 2014) was 16,269 ozs
-- Gold production for April 2014 was 1,794 ozs
Raub Operations
Gold production from the Raub plant for the quarter to 31 March
2014 was 5,805 ozs compared to 4,628 ozs for the quarter to 31
December 2013.
The tonnage processed during the quarter totaled an estimated
371,000 tonnes of tailings material (Q4 2013: 302,000). The
improvement in the total material processed over the previous
quarter reflects the improvement in ball mill availability
following the repair of the offline mill that impacted Q4 2013.
The current mining plan is to continue mining principally
tailings until Q1 2015 at which point it is intended to recommence
processing a blend of tailings and oxide material. The next
tailings storage facility will also be ready for operation in Q1
2015.
This brings gold production for the first three quarters of the
current financial year (July 2013 to March 2014) to 16,269 ozs
(2013: 16,462 ozs).
Management at Raub are continuing to focus on operational
improvement and increasing throughput via increased availability
and cost savings and this focus is already yielding benefits.
This improvement in production for Q1 2014 has meant the second
half of the financial year has started well. Production for April
2014 was 1,794 ozs. However, while the gold spot price was improved
during Q1 2014 over the end of 2013, there has been a slight
weakening of the price during Q2 2014.
While the second half of the financial year has started well,
following the GBP2.8m loss reported for the six month to 31
December 2013, there is still expected to be a loss reported for
the full year to 30 June 2014. Management remains confident of
being able to raise any additional working capital should it prove
necessary at any point.
End
Dato' Sri Andrew TY Kam Patrick Watson
Chairman and Chief Executive Finance Director
Peninsular Gold Limited Peninsular Gold Ltd.
Tel: +60 (0)3 2698 8381 Tel: +44 (0)7799 885653
-------------------------------- ---------------------------
Samantha Harrison/Craig Francis Colin Rowbury
Nominated Advisor Broker
RFC Ambrian Limited Daniel Stewart & Co. Ltd.
Tel: +44 (0)20 3440 6800 Tel: +44 (0)20 7776 6936
-------------------------------- ---------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTUURBRSKANAAR
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