CAPITAL MARKETS

Unity mines more at Henty

UNITY Mining has increased production by 9.5% over the June quarter to 13,212 ounces of gold at i...

Justin Niessner

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Preliminary results announced by the company marked Henty’s full-year production at 43,851oz, down 13.8% from the total reported at the same time last year.

However, the operation’s production during the June quarter in 2012 was significantly lower at 10,692oz of gold.

Average recovered grades were 6.2 grams per tonne gold in the last quarter, up 1gpt on the mine reserve grade.

Unity attributed the recent boost in productivity at Henty to an increasing contribution from the mine’s high-grade Read zone.

Read zone development has been the main focus at Henty with work during the half year targeting increased access and continuity of ore supply.

The company conducted extensive drilling at Read over the six-month period and reported that a large mineralised envelope is taking shape around the existing resource boundary.

Cash costs at Henty for the June quarter were $A979/oz including royalties of $50/oz.

This compares to cash costs of $991/oz (including royalties of $69/oz) in the previous quarter and $1148/oz (including royalties of $113/oz) during the June quarter last year.

The company reported cash at bank of #27.5 million, plus $11.2 million of bonds.

Shares in Unity were down 1.4% today at 7c.

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