PERTH (miningweekly.com) - Despite reporting its second-best...

PERTH (miningweekly.com) - Despite reporting its second-best quarter on record, gold miner Focus Minerals has reported that operating costs for its Coolgardie operation increased, owing to an unscheduled mill recline and shutdown costs.

During the three months to December, Focus produced some 34 211 oz of gold, including an attributable 12 779 oz from its Laverton operation.

The Coolgardie operation produced 21 432 oz, at a cash cost of $1 076/oz, compared with the cash cost of $977/oz in the previous quarter. The operation reported its second-best quarter on record, mining some 231 878 t, at 3.15 g/t.

At the Laverton operation, Focus mined some 445 120 t at 2.53 g/t gold.

A total of 411 012 t of ore was processed under the ore purchasing agreement with Barrick at its Granny Smith operation, which saw the Laverton operations produce a total of 15 666 oz of gold, with 12 779 oz attributable to Focus.

Meanwhile, Focus reported that gold revenue for the quarter at Coolgardie reached A$33.3-million from the sale of 19 922 oz, at an average price of A$1 670/oz.

Gold revenue for the Laverton operation reached A$26.3-million during the three months under review, at an average price of A$1 676/oz.


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http://www.miningweekly.com/article/focus-faces-increased-costs-at-coolgardie-2012-01-31