PRECIOUS METALS

Kaiser says commercial production underway albeit formal gold numbers awaited

Mining the high-grade A1 operation

Mining at A1

Mining at A1

Various numbers released to date by the company included four weeks of mined grade returning 20 grams per tonne gold with an estimated 98% gold recovery (after milling and processing), with production from the lode to "form 2022 baseload".

The company also photographed 30.2kg of gold poured in its processing plant's gold room, equivalent to about 92% pure gold.

"The high-grade vein mineralisation, the mainstay of the A1 mine's historic production, do not lend themselves to ready estimation under the JORC Code and this limits Kaiser's ability to provide guidance and reserve figures," Kaiser said.

"Nevertheless, Kaiser remains comfortable for the ongoing production potential with the historic mine production providing guidance."

The recovered grades historically is reported as 26gpt.

Kaiser, which is also exploring the Maldon goldfield in Victoria, started the current quarter with A$5.1 million cash.

Shares in the company were up 2.5% to 20c in afternoon trade, capitalising the company at $28.1 million.

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