The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Thursday, 12th February 2009 (1821 views)

Kingsgate Consolidated has announced that it is raising production at its Chatree gold property to full capacity.

The company has released a new report to the Australian Securities Exchange stating that the gold production at the property in Thailand "continues to increase".

Chatree's processing plant operated at full capacity of 2.4 million tonnes during January 2009 and "cash costs are expected to continue to reduce as the average gold grade improves", according to Gavin Thomas, Kingsgate managing director and chief executive.

The mine produced 10,909 ounces of gold and reached an average head grade of 1.67 g/t gold last month, at a total cash cost of $370 (£261) per ounce.

Located 280km north of Bangkok, production at the Chatree property commenced in 2000 and an expansion to the plant was carried out in 2003.

A gold mining and exploration firm that trades on the Australian Stock Exchange, Kingsgate Consolidated owns and operates the Chatree gold mine in central Thailand through its Akara Mining subsidiary.

 

« Back to Gold News stories