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June 27, 2017

Tomingley Gold Operations (TGO)

  • Strong performance continues from the previous quarter with gold production of over 17,000 ounces across April and May. Full details will be released with the quarterly report in July.
  • Guidance upgraded with an expected H2 FY17 of 43,000 – 45,000 ounces at an AISC of A$1,000 – A$1,100 from the guidance of 31,000 – 36,000 ounces at an AISC of A$1,350 – A$1,550 published in January 2017.
  • Site cash costs (C1) for the current quarter are anticipated to be in the range of A$750 – A$850.
  • Full year guidance for FY17 has been revised to production of 65,000 – 67,000 ounces at an AISC of A$1,300 – A$1,400.
  • FY18 expected to be 65,000 – 70,000 ounces at an AISC of A$1,100 – A$1,200.

TGO continued at high production levels in the current quarter, above forecast. This was due to the release of higher grade ore, particularly from the Caloma and Caloma Two pits, and generally clear weather following a difficult H1 FY17 caused by persistent heavy rain events. Mining is also occurring in the Wyoming One pit, although this is predominantly waste stripping. 

Underground and Exploration

Drilling Core drilling below the Wyoming One open pit and regional aircore/core drilling south of the TGO mine site are continuing. Further results will be released over the next several months as the programs proceed. 

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