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KCN 27.5¢

Excellent Quarterly Results

  1. Tremeer

    1,142 posts.
    Stunning Results for Kingsgate were released yesterday for 3 months to June 30th.

    Expect that a maiden dividend will be declared shortly and a marketing campaign will comeence shortly to analysts and fund managers

    Kingsgate Three Months to 30 June, 2002
    Consolidated NL
    ACN 000 837 472

    Chatree Gold Mine Thailand, 100% Kingsgate:

    Produced: 41,326 ounces gold
    153,528 ounces silver
    Total cash cost: USD65 per ounce



    Production at the company’s Chatree Gold Mine for the quarter was at an annualised rate of 1.17 million tonnes, or 17% above nameplate capacity. The Board approved the first plant upgrade consisting of 3 additional CIL tanks to improve gold recovery at the higher throughput. There were no lost time accidents or environmental incidents.


    PRODUCTION

    Gold production: 41,326 ozs.
    Silver production: 153,528 ozs.
    Total Cash Cost per ounce: USD65 per oz.
    Average gold price received: USD312 per oz.

    FINANCE

    Revenue for the period was USD14.2 million.
    Cash on hand at the 30th June was USD14.2 million
    Hedge book reduced by 1,196 ounces through gold deliveries.

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