News: CAI Calidus Resources Posts Warrawoona Gold Project Dec Quarter Production Of 12,544 Ounces

Jan 27 (Reuters) - Calidus Resources Ltd (CAI) :

• WARRAWOONA GOLD PROJECT DEC QUARTER PRODUCTION WAS 12,544 OUNCES
• SEES H2 FY2023 PRODUCTION OF 31,000 - 36,000 OUNCES AT AISC A$2,000 - A$2,250 PER OUNCE
• INCREASED GOLD PRODUCTION AT STAGES 2 AND 3 ARE EXPECTED VIA COMMENCEMENT OF HIGHER-GRADE UNDERGROUND MINING AT WGP (STAGE 2)
• INITIAL ESTIMATES SHOW PRODUCTION INCREASING FROM 70,000 OUNCES PA IN STAGE 1, TO 100,000 OUNCES PA IN STAGE 2
• ESTIMATES SHOW PRODUCTION FINALLY RAMPING UP TO MAX OF 130,000 OUNCES PER ANNUM IN STAGE 3