Kingsgate tips similar gold production

Kingsgate tips similar gold production

Thai-focussed gold miner Kingsgate Consolidated Ltd says gold production in 2006/07 will be similar to 2005/06 when the company poured just over 140,000 ounces.

Along with the gold production Kingsgate also reported silver production of 459,701 ounces.

In the final quarter, 35,531 ounces of gold were poured from the company’s Chatree gold mine, compared to 30,435 in the March quarter and 34,162 in the previous June quarter.

Total cash costs of $US271 an ounce in the June quarter were lower than the March quarter of $US300 an ounce but higher than the previous June quarter of $US250 an ounce.

The company is now finalising a feasibility study for an expansion which would take annual production to 300,000 ounces.

© 2006 AAP

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