Unhedged gold producer Lachlan Star (ASX: LSA, TSX: LSA) has delivered investors a new gold production record from the CMD Mine in Chile, during a period where the spot price of the yellow metal has maintained a comfortable level above US$1500 an ounce.
During the December quarter 11,326 ounces were produced, an increase of 10% over the previous quarter, and importantly 16,835 ounces of gold are stacked, an increase of 30% over the same period.
Another plus for Lachlan Star is a decrease of 8% for the total cost/tonne of ore at US$18.30/t.
The waste:ore ratio was maintained at 3.4:1 despite pre strip of the Chisperos pit. Excluding the Chisperos pre strip, strip ratio on other pits was reduced to 2.38:1 (compared to 3.2 previous quarter).
Declan Franzmann, managing director, commented “We continue to increase production at the CMD Gold Mine and drive our costs down through volume increases. The 30% increase in ounces stacked is encouraging as this will result in higher gold production in the coming quarters.”
CMD Gold Mine
The CMD Mine currently hosts an Indicated Resource of 37.6 million tonnes at 0.6% for 725,000 gold ounces, along with 49.8 million tonnes at 0.6% for 923,000 gold ounces.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/24334/lachlan-star-record-11326-gold-ounces-produced-from-cmd-mine-during-december-quarter-24334.html
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