PERTH (miningweekly.com) – Gold miner St Barbara on Friday increased full-year production expectations for 2016, on the back of a strong second quarter.
Full-year production was expected to reach between 354 000 oz and 379 000 oz, instead of the previous estimate of between 329 000 oz and 369 000 oz.
During the quarter ended December, St Barbara produced 91 912 oz of gold, with its Gwalia operations, in Western Australia, delivering 63 533 oz, and its Simberi project, in Papua New Guinea, delivering a further 28 379 oz.
Output from Gwalia was below the 72 388 oz achieved in the first quarter, as the mine moved through lower grade stopes during the quarter. However, St Barbara noted that the lower grade achieved during the quarter was largely offset by an increase in ore milled.
At Simberi, quarterly production comfortably exceeded the target run rate for the third consecutive quarter.
For the full year, Gwalia was expected to deliver between 245 000 oz of gold and 260 000 oz of gold, while Simberi would deliver between 100 000 oz and 110 000 oz.
Edited by: Creamer Media Reporter
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