Strong results for Endeavor

CBH Resources recorded higher than expected lead and zinc production at its Endeavor Mine during the December quarter.

CBH Resources recorded higher than expected lead and zinc production at its Endeavor Mine during the December quarter.

The mine, located at Cobar in NSW’s central west, produced 14,228 tonnes of zinc concentrates and 5951 tonnes of lead concentrates, the company said in its December quarter production results, released this morning.

The mine’s lead and zinc production for the first half of the 2009-10 financial year were 13% and 8% above forecast respectively.

The mines’ mill also processed 231,295 tonnes of ore, which was 10% above forecast, while mining head grades were at 12.3%, which was 3% above forecast.

According to the company, plans to ramp up production at Endeavor to 850,000 tonnes per year from July 2010 are ahead of schedule.

CBH Resources ended the quarter with a cash balance of $47.2 million, of which Endeavor had operating cashflow of $2.8 million.

By the end of December 2009, the mine had also gone 641 days without a lost time injury, maintaining the Endeavor’s “excellent safety performance.”

According to CBH Resources, the approvals process for its Rasp Mine is progressing satisfactorily, while a scoping study has confirmed a potential nine year lifespan for its Panorama Project.

The company is now looking for a partner to develop Panorama.

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