Alkane Resources releases Q1 2017 operation results
2017-04-20 13:33:22 【Print】
BEIJING (Asian Metal) 20 Apr 17 - Alkane Resources Ltd (“Alkane Resources” or the “Company”) released the first quarter of 2017 operation results
Site operating cash costs reduced by 33% from previous quarter at A$1,070/ounce with all in sustaining costs (AISC) of A$1,201/ounce.
Site operating cash flow after development costs for the quarter was $6 . 5M but due to delayed payments from the December quarter in January, the net position was $2 . 0M.
The Company achieved gold sales of 16,303 ounces for A$27.6 million at an average price of A$1,694/ounce.
Full year guidance for FY2017 remains at production of 53,000 – 58,000 ounces with an AISC of A$1,600 – A$1,750 although production is expected to be at the higher end and AISC at the lower end of the guidance range due to higher pit grade reconciliation.
. In the quarter, gold production was above forecast at 18,721 ounces, a 59% increase from the previous quarter, reflected recovery from the weather affected previous two periods.