As of today, Stawell will start the transition to care and maintenance after more than 32 years of continuous operation.
The mine employs around 150 people.
Production from the underground operation has been steadily declining, falling to below 40,000 ounces per annum in 2014 and 2015.
Guidance for 2016 was around 35,000oz.
“The mine will be maintained in a state of operational readiness to possibly recommence operations with activities focused on exploration programs on the East Flank of the Magdala Basalt which hosts the Aurora B discovery,” KL said.
In March, Newmarket announced a maiden inferred resource for Aurora B of 30,400oz at 3.5 grams pe...