Resolute Syama production continues to ramp up boosted by Tabakoroni recoveries

first_imgResolute Mining has provided a production update for the March 2019 quarter. Total quarterly gold production of 98,105 oz was 24,414 oz higher than the December 2018 quarter. Gold production from Syama increased by more than 50% to 84,552 oz, representing a site record for quarterly output. Strong operating performance and cash flow generation enabled the company to continue to invest in growth activities without further debt drawdowns during the March 2019 quarter.The key driver of the positive quarterly performance was the high grade and above budget recoveries achieved from Resolute’s new mine at Tabakoroni. A decision to accelerate mining at the Syama satellite operation has resulted in above budget mining rates which has provided high grade ore to the Syama oxide mill and allowed for the creation of a significant oxide ore stockpile. Syama oxide operations produced a record 71,186 oz for the March 2019 quarter. Strong performance from the oxide operations has supported a decision to prioritise infrastructure, development, and the automation implementation program at the Syama Underground Mine during the March 2019 quarter.The focus on development has resulted in a more modest increase in underground ore production. Underground ore mined increased 45% to 244,396 t. The Syama Sulphide operations produced 13,336 oz for the March 2019 quarter. The Syama Underground Mine ramp-up is continuing with commercial production now targeted for the September 2019 quarter. Ravenswood produced 13,554 oz of gold, down 22% from the December 2018 quarter as a result of limited ore supply from Mt Wright and regional weather impacts.Managing Director and CEO, Mr John Welborn, was pleased with the record quarterly production result: “Syama is becoming the robust, flexible, high production, low cost gold mine we have envisaged. Syama will be a powerhouse of gold production for Resolute for many years to come. Underground ore production will continue to ramp up. Importantly we have provided the team additional time to optimise and commission the most advanced underground mining automation system in the world.”last_img read more