Following a rain-sodden H1, the second half of FY17 saw a remarkable turnaround in gold production at the TeraGo Inc. (TO:TGO), and brought down unit costs markedly as a result. With similar production and cost guidance to FY17 targeted for FY18 at the TGO, key catalysts will be those linked to the development of the Dubbo Project (DP). Commentary from Alkane (AX:ALK) that key product markets (eg certain rare earths, zircon/zirconium) are recovering from their multi-year lows signals a return of focus to the company’s flagship project.
Record production, grade and lowest costs for Q4
Q4 gold production was 27,924oz at AISC costs of A$905/oz and C1 cash costs of A$702/oz. This was a quarter-on-quarter production increase of a high 49% and demonstrates not only the impact high rainfall had on operation during H117, but also the efficiency of Alkane’s mining teams at the TGO in getting ore out of the ground and into saleable gold ounces.
To read the entire report Please click on the pdf File Below: