Pantoro posts record quarter

PERTH (miningweekly.com) – Gold miner Pantoro has reported record production in the three months to December, producing 9 598 oz of gold.

Gold production during the quarter was 30% higher than the September quarter, and a 110% increase on the previous corresponding quarter, as the Nicolsons project, in Western Australia, continued to exceed expectations.

Pantoro said on Monday that the company was currently producing at levels exceeding feasibility study targets, and was in the process of expanding to a rate of 50 000 oz/y, with production improving on the back of the continued growth in openpit ore stockpiles and an upgrade to the processing plant.

Pantoro has also engaged external consultants to complete the planning for a further plant capacity increase, which will see the site operate at 350 000 t/y to 400 000 t/y. The upgrade will start once exploration efforts at Nicolsons and other prospects have provided sufficient confidence to commit to the construction.

Meanwhile, C1 cash costs for the quarter were also down to A$913/oz, compared with the A$976/oz reported in the previous quarter.