Sydney - Tuesday - January 31: (RWE Australian Business News) -
Croesus Mining NL (ASX code: CRS) reports December 2005 quarter
production totalled 23,816 ounces of gold, down from 38,894 ozs in the
September 2005 quarter and 50,846 ozs in the December 2004 quarter.
The gold was produced at a cash cost of $648 an ounce, up from
$577 in the September 2005 quarter and $379 in December 2004 quarter.
The production came largely from the Norseman operations, where
quarterly production was 22,516 ounces at a cash cost of $626 per ounce.
Improved performance from Harlequin in November and December
showed cash costs decreasing from the previous quarter.
As expected, cash costs increased from Bullen due to the
reduction in remnant mining.
The Scotia Open Pit was the main contributor to the increase in
cash costs with continued delays in the mining performance delaying the
completion of the pit leading to extra costs.
Cash costs for Norseman showed improvement in the month of
December, reducing to $478 per ounce.
Shares in Croesus fell 1c to 33c yesterday.
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