Multi commodity producer and explorer, Alkane Resources has recorded gold production of 15,346 ounces from its Tomingley Gold Mine (TGO) for the December quarter.
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This was in line with forecast despite some weather interruptions to operations.
Sales of 14,250 ounces, resulting in revenue of A$22.6 million were also recorded.
Average sale price was A$1,583 per ounce, with site costs at A$1,166 per ounce and total cash operating costs of A$1,316 per ounce.
Site cash flow for the quarter after site operating expenses and development expenditure was A$2.45 million, with production for FY16 to date 35,136 within guidance, and site cash flow totals A$12.55 million.
During the quarter, Alkane’s nearby Dubbo Zirconia and rare earths project (DZP) was granted its mining lease by the NSW Department of Industry Division of Resources and Energy.
The DZP remains the most advanced non-Chinese new development capable of supplying a full spectrum of rare earths elements and other specialty metals to growing market sectors.
The DZP is expected to have a mine life of over 70 years and has been described as “a long term project of global strategic significance” for Australia and for the local economy in Dubbo and central west NSW.
