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How is Kingsgate Consolidated Reviving Chatree Gold Mine’s Production? — ASX:KCN| ASX Mining News & Discussion
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Lykeshares
2y
Official
$KCN
How is Kingsgate Consolidated Reviving Chatree Gold Mine’s Production?
Steady Progress at Chatree Gold Mine
Kingsgate Consolidated Limited (ASX:KCN) has reported a successful October at the Chatree Gold Mine, with the pouring of more than 3,000 ounces of gold. The total gold production reached 21,859 ounces and 270,058 ounces of silver as of November 2 since the mine's reopening in late March. This progress marks a positive trajectory for the company's efforts to revitalize the mine's operations.
Record Haulage Achievements and Operational Updates
The mining contractor, LotusHall Mining, achieved a monthly rehandle haulage record of 288,069 tonnes in October, transported to the Run of Mine Pad. Plant #2, running at an average of 405 tonnes throughput per hour, exceeded its nameplate capacity. The operation maintained an average head grade of 0.46 g/t Au. Notably, the recovery rates for gold and silver remained consistently strong at 83.4% and 53.7%, respectively.
Throughout October, the crushing operations processed 269,109 tonnes at an average throughput of 471
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tonnes per hour, while 274,864 tonnes were milled. Additionally, the commissioning of the first blast hole Epiroc T45 drill rig was successful, completing an initial blast pattern of 210 holes.
Financial Management and Agreements
Kingsgate emphasized prudent cash flow management. The company also announced an agreement with the Akara Preference Shareholder, deferring the repayment of two shareholder advances for at least another 12 months. This financial strategy aims to further stabilize the company’s position during the ramp-up phase.
Executive’s Perspective and Acknowledgments
Mr. Ross Smyth-Kirk OAM, Kingsgate’s Executive Chairman, expressed satisfaction with the continued positive momentum at the Chatree Gold Mine. He emphasized the ongoing progress towards full production, anticipated by early 2024. Smyth-Kirk also expressed gratitude to Ms. Nucharee Sailasuta, a fellow board member and Akara Preference Shareholder, for her unwavering support of Kingsgate.
Conclusion
Kingsgate Consolidated Limited remains committed to the revival and stabilization of operations at the Chatree Gold Mine. The recent achievements and milestones signal promising advancements, steering the company closer to its goal of full production by 2024. These updates denote not only operational success but also strategic financial decisions that underpin Kingsgate’s path to sustained growth.
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L
Lykeshares
133d
Official
Berkshire is hoarding so. much. cash.
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L
Lykeshares
133d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
164d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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L
Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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L
Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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L
Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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