Tomingley Gold Operations (TGO) has reached another major milestone with the pouring of its first gold bar following the successful commissioning of the stripping and elution circuit of the process plant. The first pour weighing 8.191kg and containing approximately 230 ounces of gold, is the final milestone in delivering this project on-time and on-budget.
The pour marks the completion of commissioning and commencement of operations for TGO. The milling circuit has demonstrated continuous running above 90% of design capacity, with peak rates above design. The focus of the activities now turns to maximising mining productivity, completion and optimisation work in processing and overall production cost management.
Alkane, on behalf of TGO, has executed a gold hedge of 25,000 ounces at A$1,449 for delivery on 16 May 2014 with Credit Suisse International. Gold can be sold into the hedge or the contract may be rolled forward depending upon the spot price at maturity. 1
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