JOHANNESBURG (miningweekly.com) – TSX- and Aim-listed Aureus Mining on Friday said it was working to resolve challenges encountered with the detoxification circuit in the process plant at the newly commissioned New Liberty mine, in Liberia.
Earlier this week, Aureus suspended gold processing operations after only two months of operations as the detoxification circuit had not been operating to original design specifications.
Commercial production at New Liberty had officially been declared on March 1.
An update was expected next week on the remedial actions undertaken to optimise the detoxification circuit and the consultations under way with stakeholders and consultants to develop a start-up plan to restart processing as soon as possible.
During the quarter to March 31, the company produced some 22 706 oz of gold, with an additional 5 967 oz of gold produced in April.
During the quarter under review, the West African gold producer generated revenue of $23.1-million from gold sales of 19 249 oz.
Aureus recorded operating cash costs of $1 034/oz and all-in sustaining cash costs of $1 153/oz post commercial production during the quarter to March.
Quarter-end cash reached $2.9-million, with inventory at $14.3-million.
The company currently had cash of $5.5-million and was monitoring its working capital position closely.
Edited by: Creamer Media Reporter
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