The final quarter result brings the company’s gold production for the fiscal year ended June 30 to a record 230,357oz.

The company reported cash operating costs for the latest quarter of $292, down 2% on the previous period.

Production in the next half will be reduced from current levels due to the next planned phase of major waste-stripping at the company’s Tarmoola operation, 29km north-west of Leonora in Western Australia.

However, the company is forecasting strong second half output for Tarmoola, which, combined with production from the new Carosue Dam mine, is expected to result in record production for the 2000-2001 financial year.

At the company’ Carosue Dam gold operation, 100km north-east of Kalgoorlie, engineering design and construction of the 1.8-2 million tonnes per annum plant and surrounding associated infrastructure remain in line with the feasibility study timetable.

Pre-strip mining commenced at the beginning of this month.

The company also said it has identified a shallow oxide resource at its Eclipse prospect with in the Ursus trend, close to its Tarmoola mine. It hopes this prospect may extend the ultimate life of its Tarmoola mine.

Drilling results at three prospects include intersections such as 12m grading at 4.25 grams per tonne of gold, 8m at 4.01gpt, 5m at 4.11gpt and 18m at 2.07gpt.