The extract below is taken from KDR announcement Nov 23rd, 1 month before BT Mining contract was terminated - no mention of the issues here?? All going swimmingly it seemed. Not sure why the reference to what the 20% partner would or wouldn't do - didn't he forego any right to direction of the project last May - almost 12 months ago now? Did the MD mention how Pybar was going since taking over from BT Mining? No agenda here but just recalled Nov being very positive and very neutral/quiet since.
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Operations Update Burbanks production proceeding well as highgrade results point to Resource upgrade
Kidman Resources (ASX: KDR) is pleased to advise that production at its Burbanks gold project in WA is proceeding well, with 1746oz poured from mining activities for the month of October. As a result, Kidman generated sales revenue of $2.67 million, reflecting an average price of A$1523/oz. Kidman has now produced a total of 3086oz at Burbanks since starting operations there in mid-September, generating total revenue of A$4.8 million. The gold produced in October came from both the open pit and underground mine at Burbanks, with the higher-grade area of the open pit still to be mined over the rest of this quarter. Underground the focus has been on extending the decline, establishing diamond drill platforms and remnant mining areas. Approximately 500m of development has now been completed since acquiring the project. Significantly, the historic 4 level shaft and workings have now been reached providing access to multiple remnant mining areas. Kidman will provide further details of its production performance, including mill throughput, grades, recoveries and costs, in its December quarterly report. Kidman is also pleased to advise that underground drilling is continuing to extend the known mineralisation with another host of high-grade results. These results are expected to form part of a resource upgrade and will also assisting in the development of a more detailed mine plan.
KDR Price at posting:
8.4¢ Sentiment: None Disclosure: Not Held
