IGR 0.00% 50.0¢ integra mining limited

The Good newsIt is not expected that there will be any impact on...

  1. 3,559 Posts.
    The Good news
    It is not expected that there will be any impact on future production and previous FY2013 guidance of 100,000 ounces at an average cash cost of production of $850 per ounce is maintained.

    The higher costs are a function of scheduling as higher cost stockpile and production from the upper portions of the Maxwells open pit (higher strip ratio) are the main feed sources for the first three Quarters of FY2013.

    Costs are expected to reduce to $750 per ounce towards the end of FY2013 as higher grade Majestic open pit production begins to contribute in May 2013.

    Further, that order of cost should be maintained into FY2014 as higher grade open pits such as Lucky Bay and Imperial come into the production schedule.

    The trial mining is progressing very well and it is
    expected that a parcel of 40,000 tonnes of material will be batch treated in October and recovered gold reconciled against forecast production.

    The Bad news
    Due to the mechanical issues experienced during the quarter Integra expects to produce 12,000-13,000 ounces of gold at a cash cost of circa $1400 per ounce in the current June Quarter. Hopefully, this is already priced into the SP

    Sadly, the market are not overwhelmed with the announcement so far. Hopefully the SP will gain some traction as the announcement is digested

    Angers
 
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