Gold production increased by 10.4% to 60,823 ounces, with the plant running at throughput of a record 4.2 million tonnes per annum, a 5% increase.
 
Beadell said throughput averaged 4.3Mtpa in December and is expected to reach 4.5Mtpa in the current quarter.
 
Total gold ore, iron ore and waste mined for the quarter was 4.7Mt, down 32% from the forecast of 6.9Mt.
 
Production for the six months to December 31 was 116,000oz, just missing guidance of 120,000oz.
 
The company blamed the lower-than-expected material movement and the slightly earlier onset of the wet season for the production miss.
 
Beadell has enlarged its earthmoving fleet with the addition of a 250-tonne excavator and four 100t 777G dump trucks, which is expected to increase material movement by around 30%.
 
For the December half, C1 cash costs, excluding a 1% royalty, are expected to be in the upper range of the $US435-485 per ounce guidance.
 
The company said iron ore credits would positively impact on cash costs.
 
Gold sales for the December quarter were a record 64,131oz.
 
Beadell had around $A25 million cash and bullion at the end of the quarter after $53.6 million of one-off cash outflows during the period.
 
The company repaid $37 million of its Macquarie loan, spent $9.6 million on the fleet expansion, $4 million on the construction of a tailings dam and $3 million on the construction of a spent ore/emergency feeder and other plant improvements.
 
At the end of December, the company’s gold and foreign exchange hedges stood at a net positive position of $35.5 million.
 
“This record-breaking quarter was particularly gratifying given our capacity to pay out around $54 million in debt repayments coupled with important plant and equipment upgrades, whilst maintaining a strong cash and bullion balance in an environment of low gold prices,” Beadell managing director Peter Bowler said.
 
“Taking into account our positive hedge balance of $35.5 million and the $US62 million remaining on our loan, the company’s balance sheet has improved markedly this quarter.
 
“Our ultra high-grade oxide pit, Duckhead, performed very strongly and we look forward to a continued significant contribution from this low-cost gold source over the coming quarters.”
 
Beadell will release its full December quarterly later this month.
 
Shares in the company last traded 0.2% higher at A81.7c after earlier reaching an intraday high of 84c.