...BRONZEWING’S DECEMBER QUARTERLY GOLD PRODUCTION INCREASES 45%...

...BRONZEWING’S DECEMBER QUARTERLY GOLD PRODUCTION INCREASES 45% TO 25,400 OUNCES
View Resources Ltd (ASX: VRE) is pleased to announce that its Bronzewing mine produced 10,300 ounces of gold in December, as the ramp up to steady production progresses to achieve the targeted +120,000 ounces per annum. December quarter’s production increased by 45% from the previous period (17,500ozs) to 25,400 ounces on the back of both underground mines starting to move into a stoping production phase by mid December.
Managing Director Tim Gooch said “The turnaround at Bronzewing in this last quarter, and in particular in December, is attributable to achieving more consistent ore supplies from four sources. This has had an immediate impact on throughput, head grade, recoveries and ultimately gold output. Over the next few months we will continue to work hard to build stockpiles of ore and ensure that throughput and production remains consistent. What is most heartening is that the key feasibility study assumptions are reporting as modelled and this gives us confidence as the project moves forward.”
172,631 tonnes of ore at 1.96g/t were treated through the plant in December with an average recovery of over 93% as the processing facility moves towards its full rated capacity of 2.2 million tonnes per annum. With ore now being sourced consistently from four sources (two underground mines, the Calista and Discovery, and two open pit mines, the Central and Success) the optimum mix of fresh and oxide ore into the plant has generated this increasingly higher throughput rate. Coupled with the high gold recovery View is confident that these key production statistics can be maintained going forward to consistently achieve the forecast +10,000 ounces of gold per month.
As a result of Bronzewing site management’s focus on efficiency, overall costs will start to reduce in line with the completion of the Discovery underground capital development programme and the main waste pre-strip at the Central open pit. As a result staffing numbers are being reduced, equipment demobilised and associated on-costs such as, fuel, flights and other overheads are dropping to reflect the lower activity levels.!!!