From what I gleaned, Duketon South is the drag, but improvements will help moving forward. Positive signs.
From Page 4 of the report....
"The mill processed 1,503kt at 1.28g/t with a metallurgical recovery of 89.8% (June quarter 1,610kt at 1.56g/t and 90.9% recovery). Following the plant modifications undertaken in FY22, the process plants are performing above expectations. Plant throughput rates remain strong and metallurgical recovery was relatively stable at 90% despite the 18% reduction in feed grade.
Gold production decreased 25% quarter on quarter as the feed grade from both the open pit and underground mines decreased in line with plan and the total milled tonnes reduced due to scheduled 2-day shutdowns at each plant.
Duketon South AISC increased to $1,977/oz in the September quarter from $1,497/oz in the June quarter as run of mine feed grades decreased impacting ounces produced. Costs were also impacted by higher underground development metres, increased surface ore haulage and further industry-wide inflationary costs being incurred.
AISC during the remainder of FY23 is expected to move towards guidance as higher gold production is achieved in the rescheduled open pits and commencement of stoping at Garden Well South.
Growth capital for the September quarter was $18M, which related to mine development at the Garden Well South underground mine and associated infrastructure. "
RRL Price at posting:
$1.53 Sentiment: None Disclosure: Held
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