Xtract Resources produced 4 522 oz of gold at its Manica concession in Mozambique in the three months ending March 31.
Company chairperson Collin Bird said the first-quarter performance was “excellent” despite the heavy and prolonged rains that the project was exposed to during the post-commissioning phase.
"The second-quarter results have seen continued improvement in performance, with more consistent gold production in April and May, returning 68 kg and 66 kg, respectively," he said.
As the operation has settled and usual post-commissioning concerns have been handled, gross mine output from the Fair Bride deposit inside the Manica concession has increased month on month.
Throughput tonnes processed, run-of-mine (RoM) grade, mill throughput rate, and mill availability have all shown consistent increase.
Xtract said this will likely result in a continuous improvement in the unit cash cost per ounce of gold produced, which should increase revenue.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
