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Lustrous month for Lachlan

LACHLAN Star has announced record gold mined, stacked and poured for the month of October as well...

Justin Niessner

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Gold production for the month was 6000 ounces, a new high for the company reflecting a return of momentum after September output was hampered by reduced ounces staked in July.
 
Gold stacked in October was 10,200oz while gold mined was 8800oz.
 
“The increased ounces stacked from August onwards are now starting to be seen in the weekly gold pours and the company expects gold production to continue to climb based on the ounces being stacked in recent months and the approximate two-month lag between stacking and production,” Lachlan Star said.
 
“With gold recovery averaging approximately 77% over the past two quarters and the rapid increase in gold loaded onto the pad, the company expects gold production to continue the upward trend seen during 2013.”
 
November operations at the company’s CMD mine in Chile are forecast to include 8800-9600oz of gold mined, 9300-10,200oz of gold stacked and 5800-6000oz of gold poured.
 
The waste-to-ore ratio for November is expected to be around 1.1:1 after a rapid fall during the month of October to 0.98:1 – 56% below the average achieved in the September quarter.
 
The reduction in the waste-to-ore ratio is expected to have a materially positive impact on all-in costs per ounce.
 
C1 cash costs for the three months to September marked a 28% quarter-on-quarter improvement to $US821 ($A865) per ounce.
 
The period represented CMD’s best performance since Lachlan took ownership of the mine, with production increasing 6% over the three months to 17,056oz of gold.
 
Shares in Lachlan were last trading 2.8% higher at A18.5c.

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