Plutonic gold output rises

CANADA’S Superior Gold is on track to meet its full-year guidance after a solid first half at the Plutonic gold operation in Western Australia.
Plutonic gold output rises Plutonic gold output rises Plutonic gold output rises Plutonic gold output rises Plutonic gold output rises

The Plutonic mine in WA's Bryah Basin

Staff reporter

Plutonic produced 23,937 ounces, up from 22,504oz in the March quarter.

The stope grade mined jumped to 3.36 grams per tonne from 2.79gpt, while the grade at the Hermes open pit dropped to 0.94gpt gold from 1.06gpt.

Grade milled increased from 1.92gpt gold to 1.96gpt gold, while gold recovery was steady at 87%.

Half-year production was 46,441oz, which keeps Plutonic on track to meet 2019 guidance of 92,000-105,000oz.

"We are pleased with our second quarter production results where the underground operational improvements, which commenced in the first quarter of the year, resulted in a 21% increase in stoping tonnage and a 20% higher stoping grade relative to the first quarter," Superior president and CEO Chris Bradbrook said.

Mining at Hermes finished during the quarter, with the focus to remain on underground operations.

"We remain focused on increasing stope grade, quarterly production and cash balance for the remainder of the year," Bradbrook said.

Superior's cash balance rose from US$16.2 million to $17.3 million.

The company will be releasing complete financial and operating results for the June quarter next month.

Superior shares last traded at C73c, valuing the company at $70.8 million.