They released a announcement today outlining their production objectives which contained the following:
Kingston Managing Director and CEO, Andrew Corbett, said:
“We are immensely grateful for the support we have received from both new and existing shareholders. Their confidence is a validation of our work as we move forward with our plans to significantly increase production with Pearse. There is currently a lot of activity in the Cobar region and Kingston is in an excellent strategic position with an operating processing plant and outstanding exploration upside potential.
The Tailings Project has been a highly successful operation for the company and the entire team should be very proud of what has been delivered. Shortly after Kingston acquired the project in January 2022, the site team made operational improvements such as increasing the throughput rate and managing feed densities to maximise monthly gold production. Operating cash flow from the project has reached $24m as of 31 December 2023. The focus at Mineral Hill team will now shift to extracting the remaining high-grade tailings inventory and making the final preparations on the transition to open pit mining. Production during the March quarter is expected to be around 3000oz with strong performance during January and March, after lower grades and recoveries were experienced in February.
We remain focused on our company strategy to self-manage and self-perform all aspects of the operation at Mineral Hill. This includes transitioning our current mining team from the Tailings Project over Pearse open pits, ensuring we maximise the operating margin for Kingston shareholders. This approach has also been used with the process plant refurbishment. By managing this work program in-house and using our highly capable site team we have managed to refurbish the processing plant on budget and at a leading low capital intensity.”
Silver
Lead
Zinc
Gold
FY27
Copper
Gold
FY24
Silver
Figure 1: Proportion of forecast payable metal in FY24 and FY27.
www.kingstonresources.com.au
They sit smack in-between The Rip and Durnings and talk about processing ore from 'others'.
I know little about processing multiple ores and have been unclear in the past but multi ore discoveries and a multi-ore processor next door seems a compelling model.
I'd expect some assay results from Durnings next then the 11 drills.
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