production is ok, page-5

KINGSGATE Consolidated, which produces gold in Thailand and Australia, said it is reviewing spending plans following a sharp fall in the precious metal's value.

Kingsgate also said it expects gold output in the fiscal year through June at the bottom end of its previous guidance of between 200,000 and 220,000 troy ounces. Third-quarter output of 47,509 ounces was slightly higher than 46,150 in the previous three months.

"Given the volatility in gold and silver prices in early April, Kingsgate is reviewing all capital expenditure and operating plans to ensure that the business continues to deliver the strongest return to shareholders," the Sydney-based company said.

It didn't mention any specific changes and said further details may be provided at another time.

Gold futures have been under pressure since early April amid renewed global economic slowdown fears. The metal fell over 9 per cent on Apr. 15 in their biggest one-day percentage drop in 30 years.