Things are looking rosier...
"22 April 2005 MEDIA RELEASE
Manager, Company Announcements
Australian Stock Exchange
Level 4, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir,
KINGSGATE TRACKING WELL ON FIRM COURSE
Kingsgate Consolidated (ASX:KCN) today reported that gold production for the March quarter was
up 14%, total cash cost of production was down 5%, gold resources increased by 30% and total
cash on hand at the end of the quarter was $39million.
“This was a great quarter”, said Kingsgate’s CEO Mr Gavin Thomas.
Gold production at the company’s Chatree mine in Northern Thailand for the quarter rose by 14% to
33,715 ounces and the estimated annual production of 125,000-135,000 ounces remained on
target.
“We are excited about the exploration results extending over known reserves and the new
development project at North Chatree”, Mr Thomas said.
Total operating costs were reduced by 5% to US$203 in the quarter while excellent safety and
environment levels continued at record levels.
One of the best intersections was 69m of 3.22g/t gold from 108m.
SEE ATTACHED TODAY’S ASX - QUARTERLY ANNOUNCEMENT"
great news!!!!!
Add KCN (ASX) to my watchlist
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