PRECIOUS METALS

WAF passes quarter-of-a-million ounces per annum run-rate

Key underground mine getting into stride

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Preliminary production numbers for the June quarter revealed the company's key M1 South underground mine yielded 103,550t grading 10.1 grams per tonne for 33,480oz, while the M5, M1 South and M1 North pits contributed 738,000t at 1.7gpt.

Recoveries in the mill came in at 94%.

Further numbers including costs are to be reported later this month.

WAF's production in the March quarter came in at 55,823oz at all-in sustaining costs of US$957/oz, generating operating cashflow of A$39 million.

Shares in WAF have been trading at just over $1 per share, capitalising the company at $892 million.

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