Peninsular Gold increased gold production at its Raub project to 5805 ounces during the March quarter, up from 4628 ounces in the previous quarter.
Management at Raub is continuing to focus on operational improvement and increasing throughput via increased availability and cost savings and this focus is yielding benefits.
Tonnage processed during the quarter totalled approximately 371,000 tonnes of tailings material, up from 302,000 tonnes in the previous quarter. The improvement in total material processed reflects the improvement in ball mill availability following the repair of the offline mill that impacted the December quarter.
The current mining plan is to continue mining principally tailings until the first quarter of 2015 at which point it is intended to recommence processing a blend of tailings and oxide material. The next tailings storage facility will also be ready for operation in quarter one of 2015.
The March quarter brings gold production for the first three quarters of the current financial year to 16,269 ounces, down from 16,462 ounces in the corresponding period of 2013.
The quarterly improvement in production has meant the second half of the financial year has started well. Production for April 2014 was 1794 ounces. However, while the gold spot price was improved during quarter one over the end of 2013, there has been a slight weakening of the price during the second quarter. www.peninsulargold.com