Beaconsfield Gold has released the company’s quarterly activities report, reporting gold production of 18,340 ounces, up 21% on previous quarter.
The company has also reported that an operating cash margin of $9.3 million was generated by the mine at a unit cash cost of $874 per ounce and a realised gold price of $1,379 per ounce.
Beaconsfield Gold CEO, Bill Colvin, said, “The Beaconsfield Mine generated a healthy operational cashflow of over $9 million during the quarter, delivering improved production into a strong gold price. This enabled debt to be retired and the balance sheet to be strengthened, as well as funding accelerated capital development and exploration.”
“The Beaconsfield Mine continued to perform safely at an annualised production rate of around 75,000 ounces.
“With the footwall drive infrastructure now largely in place, capital development of the mine accelerated and we now expect to access our next major production area, the F21 Zone, during the June quarter.”
According to the company, the deep drilling program to extend mine life progressed well and included a high grade result of 1.6 m at 32.7 g/t gold from the deepest intersection yet achieved in the Tasmania Reef.