Gold production and gold sales for the September Quarter were 3 ,404 ounces delivered to the Mint. Mill throughput was reduced during the Quarter as a result of large amounts of oversize d rock coming from the last firing in the 8532 long hole stope at the A1 Gold Mine and the delay in accessing ore fr om the Union Hill Und erground Mine near Maldon. Development to the Alliance South shoot was achieved at the end of the Quarter. Subsequent to the end of the Quarter mining of the Folly’s North long hole commenced and there was an immediate and significant change in mill throughput at Porcupine Flat from less than 12 tonnes per hour to over 18 tonnes per hour .
High grade airleg dirt from the A1 Gold Mine was restricted during the month as the best performing airleg stope , on the 1410 level, steepened. In order to continue mining the stope the broken ore was left in the stope enabling the airleg miner to st and on the ore to access the working face. As a result most of the ore mined during the Quarter remained within the stope to provide a working platform for the miner. Milling of o re from this stope started again subsequent to the end of the Quarter .
With an average gold sale price of $1,614.79 per ounce for the Quarter, revenue generated was $ 5.5 million. Cash in bank and gold at the Perth Mint at the end of the Quarter was ~$0.5 million , the Company has commenced upgrading its mining flee t and will upgrade further equipment as cashflow permits.
Production guidance for the December Quarter is 4,300 to 4, 600 ounces of gold with expenditures forecast to reduc e compared to previous Quarters p articularly as a result of the significant reduction in working capital seen from the waste development at the Union Hill Mine."
Now my math tells me that for the quarter they sold 3,406 Oz's of gold ($5.5mil ÷ $1614.70 per Oz). So this quarter they're going to do more (4,300 to 4,600 Oz's) with less cost. What I do not know is what the cost is of getting that gold, the AISC of it??? Anyone know that?
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