Gold Fields WA spend paying off

GOLD Fields says its A$95 million exploration spend in Western Australia in 2017 more than replaced depletion.

Gold Fields WA spend paying off Gold Fields WA spend paying off Gold Fields WA spend paying off Gold Fields WA spend paying off Gold Fields WA spend paying off

The company said its brownfields exploration program showed positive results in 2017, with reserves added more than replacing gold produced for the year.

Importantly, drilling at Agnew more than replaced depletion for the first time in four years, and Gold Fields said the future was “looking positive”.

Gold Fields has committed to spend $90-100 million on exploration per year for five years, with this year being the fourth year.

Western Australian output for 2017 was 1% down to 935,000 ounces, but beat the original guidance of 910,000oz.

The region generated net cashflow of $189 million, down from $256 million a year earlier

All operations aside fr...